TYSON FOODS INC, 8-K filed on 7/28/2014
Current report filing
Document and Entity Information
12 Months Ended
Sep. 28, 2013
Entity Registrant Name
TYSON FOODS INC 
Entity Central Index Key
0000100493 
Document Type
8-K 
Document Period End Date
Sep. 28, 2013 
Amendment Flag
false 
Consolidated Statements Of Income (USD $)
In Millions, except Per Share data, unless otherwise specified
12 Months Ended
Sep. 28, 2013
Sep. 29, 2012
Oct. 1, 2011
Sales
$ 34,374 
$ 33,055 
$ 32,032 
Cost of Sales
32,016 
30,865 
29,837 
Gross Profit
2,358 
2,190 
2,195 
Operating Expenses:
 
 
 
Selling, general and administrative
983 
904 
906 
Operating Income
1,375 
1,286 
1,289 
Other (Income) Expense:
 
 
 
Interest income
(7)
(12)
(11)
Interest expense
145 
356 
242 
Other, net
(20)
(23)
(20)
Total Other (Income) Expense
118 
321 
211 
Income from Continuing Operations before Income Taxes
1,257 
965 
1,078 
Income Tax Expense
409 
351 
340 
Income from Continuing Operations
848 
614 
738 
Loss from Discontinued Operation, Net of Tax
(70)
(38)
(5)
Net Income
778 
576 
733 
Less: Net Loss Attributable to Noncontrolling Interest
0 
(7)
(17)
Net Income Attributable to Tyson
778 
583 
750 
Amounts attributable to Tyson:
 
 
 
Net Income from Continuing Operations Attributable to Tyson
848 
621 
752 
Net Loss from Discontinued Operation Attributable to Tyson
$ (70)
$ (38)
$ (2)
Weighted Average Shares Outstanding:
 
 
 
Diluted
367 
370 
380 
Net Income Per Share from Continuing Operations Attributable to Tyson:
 
 
 
Diluted (USD per share)
$ 2.31 
$ 1.68 
$ 1.98 
Net Loss Per Share from Discontinued Operation Attributable to Tyson:
 
 
 
Diluted (USD per share)
$ (0.19)
$ (0.10)
$ (0.01)
Net Income Per Share Attributable to Tyson:
 
 
 
Diluted (USD per share)
$ 2.12 
$ 1.58 
$ 1.97 
Class A [Member]
 
 
 
Weighted Average Shares Outstanding:
 
 
 
Basic
282 
293 
303 
Net Income Per Share from Continuing Operations Attributable to Tyson:
 
 
 
Basic (USD per share)
$ 2.46 
$ 1.75 
$ 2.05 
Net Loss Per Share from Discontinued Operation Attributable to Tyson:
 
 
 
Basic (USD per share)
$ (0.20)
$ (0.11)
$ (0.01)
Net Income Per Share Attributable to Tyson:
 
 
 
Basic (USD per share)
$ 2.26 
$ 1.64 
$ 2.04 
Dividends Declared Per Share:
 
 
 
Dividends Declared (USD per share)
$ 0.31 
$ 0.16 
$ 0.16 
Class B [Member]
 
 
 
Weighted Average Shares Outstanding:
 
 
 
Basic
70 
70 
70 
Net Income Per Share from Continuing Operations Attributable to Tyson:
 
 
 
Basic (USD per share)
$ 2.22 
$ 1.57 
$ 1.84 
Net Loss Per Share from Discontinued Operation Attributable to Tyson:
 
 
 
Basic (USD per share)
$ (0.18)
$ (0.09)
$ 0.00 
Net Income Per Share Attributable to Tyson:
 
 
 
Basic (USD per share)
$ 2.04 
$ 1.48 
$ 1.84 
Dividends Declared Per Share:
 
 
 
Dividends Declared (USD per share)
$ 0.279 
$ 0.144 
$ 0.144 
Consolidated Statements of Comprehensive Income Statement (USD $)
In Millions, unless otherwise specified
12 Months Ended
Sep. 28, 2013
Sep. 29, 2012
Oct. 1, 2011
Statement of Comprehensive Income [Abstract]
 
 
 
Net Income
$ 778 
$ 576 
$ 733 
Other Comprehensive Income (Loss), Net of Taxes:
 
 
 
Derivatives accounted for as cash flow hedges
(14)
17 
(17)
Investments
(3)
0 
(8)
Currency translation
(37)
3 
(41)
Postretirement benefits
9 
(4)
(13)
Total Other Comprehensive Income (Loss), Net of Taxes
(45)
16 
(79)
Comprehensive Income
733 
592 
654 
Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interests
0 
(7)
(17)
Comprehensive Income Attributable to Tyson
$ 733 
$ 599 
$ 671 
Consolidated Balance Sheets (USD $)
In Millions, unless otherwise specified
Sep. 28, 2013
Sep. 29, 2012
Assets
 
 
Cash and cash equivalents
$ 1,145 
$ 1,071 
Accounts receivable, net
1,497 
1,378 
Inventories
2,817 
2,809 
Other current assets
145 
145 
Total Current Assets
5,604 
5,403 
Net Property, Plant and Equipment
4,053 
4,022 
Goodwill
1,902 
1,891 
Intangible Assets
138 
129 
Other Assets
480 
451 
Total Assets
12,177 
11,896 
Liabilities and Shareholders' Equity
 
 
Current debt
513 
515 
Accounts payable
1,359 
1,372 
Other current liabilities
1,138 
943 
Total Current Liabilities
3,010 
2,830 
Long-Term Debt
1,895 
1,917 
Deferred Income Taxes
479 
558 
Other Liabilities
560 
549 
Commitments and Contingencies (Note 20)
   
   
Shareholders' Equity:
 
 
Capital in excess of par value
2,292 
2,278 
Retained earnings
4,999 
4,327 
Accumulated other comprehensive loss
(108)
(63)
Treasury stock, at cost - 48 million shares in 2013, and 33 million shares in 2012
(1,021)
(569)
Total Tyson Shareholders' Equity
6,201 
6,012 
Noncontrolling Interests
32 
30 
Total Shareholders' Equity
6,233 
6,042 
Total Liabilities and Shareholders' Equity
12,177 
11,896 
Class A [Member]
 
 
Shareholders' Equity:
 
 
Common stock
32 
32 
Total Shareholders' Equity
32 
32 
Convertible Class B [Member]
 
 
Shareholders' Equity:
 
 
Common stock
7 
7 
Total Shareholders' Equity
$ 7 
$ 7 
Consolidated Balance Sheets (Parentheticals) (USD $)
In Millions, except Per Share data, unless otherwise specified
Sep. 28, 2013
Sep. 29, 2012
Treasury Stock, shares
48 
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 Statements Of Shareholders' Equity (USD $)
In Millions, unless otherwise specified
Total
Capital In Excess Of Par Value [Member]
Retained Earnings [Member]
Accumulated Other Comprehensive Income (Loss), Net Of Tax [Member]
Treasury Stock [Member]
Equity Attributable To Tyson [Member]
Equity Attributable To Noncontrolling Interests [Member]
Class A [Member]
Class B [Member]
Balance at beginning of year, Treasury Stock value at Oct. 02, 2010
 
 
 
 
$ (229)
 
 
 
 
Balance at beginning of year, value at Oct. 02, 2010
 
2,243 
3,113 
0 
 
 
35 
32 
7 
Balance at beginning of year, Treasury Stock shares at Oct. 02, 2010
 
 
 
 
15 
 
 
 
 
Balance at beginning of year, shares at Oct. 02, 2010
 
 
 
 
 
 
 
322 
70 
Increase (Decrease) in Shareholders' Equity [Roll Forward]
 
 
 
 
 
 
 
 
 
Stock-based compensation, value
 
18 
 
 
71 
 
 
 
 
Net income attributable to Tyson
750 
 
750 
 
 
 
 
 
 
Dividends
 
 
(59)
 
 
 
 
(49)
(10)
Redeemable noncontrolling interest accretion
 
 
(3)
 
 
 
 
 
 
Other Comprehensive Income (Loss)
(79)
 
 
(79)
 
 
 
 
 
Purchase of Tyson Class A common stock, shares
 
 
 
 
12.0 
 
 
11.7 
 
Purchase of Tyson Class A common stock, value
 
 
 
 
(207)
 
 
 
 
Stock-based compensation, shares
 
 
 
 
(5)
 
 
 
 
Net loss attributable to noncontrolling interests
(17)
 
 
 
 
 
(13)1
 
 
Contributions by (distributions to) noncontrolling interest
 
 
 
 
 
 
8 
 
 
Net foreign currency translation adjustment and other
 
 
 
 
 
 
(2)
 
 
Balance at end of year, value at Oct. 01, 2011
5,685 
2,261 
3,801 
(79)
 
5,657 
28 
32 
7 
Balance at end of year, Treasury Stock value at Oct. 01, 2011
 
 
 
 
(365)
 
 
 
 
Balance at end of year, shares at Oct. 01, 2011
 
 
 
 
 
 
 
322 
70 
Balance at end of year, Treasury Stock shares at Oct. 01, 2011
 
 
 
 
22 
 
 
 
 
Increase (Decrease) in Shareholders' Equity [Roll Forward]
 
 
 
 
 
 
 
 
 
Stock-based compensation, value
 
17 
 
 
60 
 
 
 
 
Net income attributable to Tyson
583 
 
583 
 
 
 
 
 
 
Dividends
 
 
(57)
 
 
 
 
(47)
(10)
Redeemable noncontrolling interest accretion
 
 
0 
 
 
 
 
 
 
Other Comprehensive Income (Loss)
16 
 
 
16 
 
 
 
 
 
Purchase of Tyson Class A common stock, shares
 
 
 
 
14.0 
 
 
14.3 
 
Purchase of Tyson Class A common stock, value
 
 
 
 
(264)
 
 
 
 
Stock-based compensation, shares
 
 
 
 
(3)
 
 
 
 
Net loss attributable to noncontrolling interests
(7)
 
 
 
 
 
(7)1
 
 
Contributions by (distributions to) noncontrolling interest
 
 
 
 
 
 
9 
 
 
Net foreign currency translation adjustment and other
 
 
 
 
 
 
0 
 
 
Balance at end of year, value at Sep. 29, 2012
6,042 
2,278 
4,327 
(63)
 
6,012 
30 
32 
7 
Balance at end of year, Treasury Stock value at Sep. 29, 2012
569 
 
 
 
(569)
 
 
 
 
Balance at end of year, shares at Sep. 29, 2012
 
 
 
 
 
 
 
322 
70 
Balance at end of year, Treasury Stock shares at Sep. 29, 2012
33 
 
 
 
33 
 
 
 
 
Increase (Decrease) in Shareholders' Equity [Roll Forward]
 
 
 
 
 
 
 
 
 
Stock-based compensation, value
 
14 
 
 
162 
 
 
 
 
Net income attributable to Tyson
778 
 
778 
 
 
 
 
 
 
Dividends
 
 
(106)
 
 
 
 
(87)
(19)
Redeemable noncontrolling interest accretion
 
 
0 
 
 
 
 
 
 
Other Comprehensive Income (Loss)
(45)
 
 
(45)
 
 
 
 
 
Purchase of Tyson Class A common stock, shares
 
 
 
 
24.0 
 
 
23.9 
 
Purchase of Tyson Class A common stock, value
 
 
 
 
(614)
 
 
 
 
Stock-based compensation, shares
 
 
 
 
(9)
 
 
 
 
Net loss attributable to noncontrolling interests
0 
 
 
 
 
 
0 1
 
 
Contributions by (distributions to) noncontrolling interest
 
 
 
 
 
 
3 
 
 
Net foreign currency translation adjustment and other
 
 
 
 
 
 
(1)
 
 
Balance at end of year, value at Sep. 28, 2013
6,233 
2,292 
4,999 
(108)
 
6,201 
32 
32 
7 
Balance at end of year, Treasury Stock value at Sep. 28, 2013
$ 1,021 
 
 
 
$ (1,021)
 
 
 
 
Balance at end of year, shares at Sep. 28, 2013
 
 
 
 
 
 
 
322 
70 
Balance at end of year, Treasury Stock shares at Sep. 28, 2013
48 
 
 
 
48 
 
 
 
 
Consolidated Statements Of Shareholder's Equity (Parentheticals) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Oct. 1, 2011
Statement of Stockholders' Equity [Abstract]
 
Net Income (Loss) Attributable to Redeemable Noncontrolling Interest
$ (4)
Consolidated Statements Of Cash Flows (USD $)
In Millions, unless otherwise specified
12 Months Ended
Sep. 28, 2013
Sep. 29, 2012
Oct. 1, 2011
Cash Flows From Operating Activities:
 
 
 
Net income
$ 778 
$ 576 
$ 733 
Adjustments to reconcile net income to cash provided by operating activities:
 
 
 
Depreciation
474 
443 
433 
Amortization
45 
56 
73 
Deferred income taxes
(12)
140 
86 
Loss on early extinguishment of debt
0 
167 
0 
Impairment of assets
74 
34 
18 
Other, net
26 
18 
49 
Increase in accounts receivable
(126)
(69)
(114)
(Increase) decrease in inventories
15 
(259)
(299)
Increase (decrease) in accounts payable
(12)
106 
152 
Increase (decrease) in income taxes payable/receivable
80 
8 
(73)
Increase (decrease) in interest payable
(1)
5 
19 
Net change in other current assets and liabilities
(27)
(38)
(31)
Cash Provided by Operating Activities
1,314 
1,187 
1,046 
Cash Flows From Investing Activities:
 
 
 
Additions to property, plant and equipment
(558)
(690)
(643)
Purchases of marketable securities
(135)
(58)
(146)
Proceeds from sale of marketable securities
117 
47 
66 
Proceeds from notes receivable
0 
0 
51 
Acquisitions, net of cash acquired
106 
0 
0 
Other, net
39 
41 
28 
Cash Used for Investing Activities
(643)
(660)
(644)
Cash Flows From Financing Activities:
 
 
 
Payments on debt
(91)
(993)
(500)
Net proceeds from borrowings
68 
1,116 
115 
Purchase of redeemable noncontrolling interest
0 
0 
(66)
Purchases of Tyson Class A common stock
(614)
(264)
(207)
Dividends
(104)
(57)
(59)
Stock options exercised
123 
34 
51 
Other, net
18 
(7)
8 
Cash Used for Financing Activities
(600)
(171)
(658)
Effect of Exchange Rate Change on Cash
3 
(1)
(6)
Increase (Decrease) in Cash and Cash Equivalents
74 
355 
(262)
Cash and Cash Equivalents at Beginning of Year
1,071 
716 
978 
Cash and Cash Equivalents at End of Year
$ 1,145 
$ 1,071 
$ 716 
Business And Summary Of Significant Accounting Policies
Business And Summary Of Significant Accounting Policies
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Description of Business: Tyson Foods, Inc. (collectively, “Company,” “we,” “us” or “our”), founded in 1935 with world headquarters in Springdale, Arkansas, is one of the world’s largest meat protein companies and the second-largest food production company in the Fortune 500. We produce a wide variety of brand name protein-based and prepared food products marketed in the United States and approximately 130 countries around the world.
Consolidation: The consolidated 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.
Fiscal Year: We utilize a 52- or 53-week accounting period ending on the Saturday closest to September 30. The Company’s accounting cycle resulted in a 52-week year for fiscal 2013, 2012 and 2011.
Cash and Cash Equivalents: Cash equivalents consist of investments in short-term, highly liquid securities having original maturities of three months or less, which are made as part of our cash management activity. The carrying values of these assets approximate their fair values. We primarily utilize a cash management system with a series of separate accounts consisting of lockbox accounts for receiving cash, concentration accounts where funds are moved to, and several zero-balance disbursement accounts for funding payroll, accounts payable, livestock procurement, grower payments, etc. As a result of our cash management system, checks issued, but not presented to the banks for payment, may result in negative book cash balances. These negative book cash balances are included in accounts payable and other current liabilities. At September 28, 2013, and September 29, 2012, checks outstanding in excess of related book cash balances totaled approximately $246 million and $265 million, respectively.
Accounts Receivable: We record accounts receivable at net realizable value. This value includes an appropriate allowance for estimated uncollectible accounts to reflect any loss anticipated on the accounts receivable balances and charged to the provision for doubtful accounts. We calculate this allowance based on our history of write-offs, level of past due accounts and relationships with and economic status of our customers. At September 28, 2013, and September 29, 2012, our allowance for uncollectible accounts was $46 million and $33 million, respectively. We generally do not have collateral for our receivables, but we do periodically evaluate the credit worthiness of our customers.
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.
The following table reflects the major components of inventory at September 28, 2013, and September 29, 2012:
 
 
 
in millions

 
2013

 
2012

Processed products:
 
 
 
Weighted-average method – chicken, prepared foods and international
$
799

 
$
754

First-in, first-out method – beef and pork
624

 
611

Livestock – first-in, first-out method
1,002

 
952

Supplies and other – weighted-average method
392

 
492

Total inventory
$
2,817

 
$
2,809


Property, Plant and Equipment: Property, plant and equipment are stated at cost and generally depreciated on a straight-line method over the estimated lives for buildings and leasehold improvements of 10 to 33 years, machinery and equipment of three to 12 years and land improvements and other of three to 20 years. Major repairs and maintenance costs that significantly extend the useful life of the related assets are capitalized. Normal repairs and maintenance costs are charged to operations.
We review the carrying value of long-lived assets at each balance sheet date if indication of impairment exists. Recoverability is assessed using undiscounted cash flows based on historical results and current projections of earnings before interest and taxes. We measure impairment as the excess of carrying cost over the fair value of an asset. The fair value of an asset is measured using discounted cash flows including market participant assumptions of future operating results and discount rates.
Goodwill and Other Intangible Assets: Goodwill and indefinite life intangible assets are initially recorded at fair value and not amortized, but are reviewed for impairment at least annually or more frequently if impairment indicators arise. Our goodwill is allocated by reporting unit and is evaluated for impairment by first performing a qualitative assessment to determine whether a quantitative goodwill test is necessary. If it is determined, based on qualitative factors, the fair value of the reporting unit may be more likely than not less than carrying amount, or if significant changes to macro-economic factors related to the reporting unit have occurred that could materially impact fair value, a quantitative goodwill impairment test would be required. Additionally, we can elect to forgo the qualitative assessment and perform the quantitative test.
The first step of the quantitative test is to identify if a potential impairment exists by comparing the fair value of a reporting unit with its carrying amount, including goodwill. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is not considered to have a potential impairment and the second step of the quantitative impairment test is not necessary. However, if the carrying amount of a reporting unit exceeds its fair value, the second step is performed to determine if goodwill is impaired and to measure the amount of impairment loss to recognize, if any. The second step compares the implied fair value of goodwill with the carrying amount of goodwill. If the implied fair value of goodwill exceeds the carrying amount, then goodwill is not considered impaired. However, if the carrying amount of goodwill exceeds the implied fair value, an impairment loss is recognized in an amount equal to that excess. The implied fair value of goodwill is determined in the same manner as the amount of goodwill recognized in a business combination (i.e., the fair value of the reporting unit is allocated to all the assets and liabilities, including any unrecognized intangible assets, as if the reporting unit had been acquired in a business combination and the fair value of the reporting unit was determined as the exit price a market participant would pay for the same business). We have elected to make the first day of the fourth quarter the annual impairment assessment date for goodwill and other indefinite life intangible assets.
We estimate the fair value of our reporting units using a discounted cash flow analysis, which uses significant unobservable inputs, or Level 3 inputs, as defined by the fair value hierarchy. This analysis requires us to make various judgmental estimates and assumptions about sales, operating margins, growth rates and discount factors and is believed to reflect market participant views which would exist in an exit transaction. Generally, we utilize normalized operating margin assumptions based on future expectations and operating margins historically realized in the reporting units' industries. Some of the inherent estimates and assumptions used in determining fair value of the reporting units are outside the control of management, including interest rates, cost of capital, tax rates and credit ratings. While we believe we have made reasonable estimates and assumptions to calculate the fair value of the reporting units, it is possible a material change could occur. If our actual results are not consistent with our estimates and assumptions used to calculate fair value, we may be required to perform the second step of the quantitative test in future years, which could result in material impairments of our goodwill.
During fiscal 2013, 2012 and 2011, all of our material reporting units that underwent the quantitative test passed the first step of the goodwill impairment analysis and therefore, the second step was not necessary.
For our other indefinite life intangible assets, a qualitative assessment can also be performed to determine whether the existence of events and circumstances indicates it is more likely than not an intangible asset is impaired. Similar to goodwill, we can also elect to forgo the qualitative test for indefinite life intangible assets and perform the quantitative test. Upon performing the quantitative test, if the carrying value of the intangible asset exceeds its fair value, an impairment loss is recognized in an amount equal to that excess. The fair value of trademarks is determined using a royalty rate method based on expected revenues by trademark.
Investments: We have investments in joint ventures and other entities. We use the cost method of accounting when our voting interests are less than 20 percent. We use the equity method of accounting when our voting interests are in excess of 20 percent and we do not have a controlling interest or a variable interest in which we are the primary beneficiary. Investments in joint ventures and other entities are reported in the Consolidated Balance Sheets in Other Assets.
We also have investments in marketable debt securities. We have determined all of our marketable debt securities are available-for-sale investments. These investments are reported at fair value based on quoted market prices as of the balance sheet date, with unrealized gains and losses, net of tax, recorded in other comprehensive income. The amortized cost of debt securities is adjusted for amortization of premiums and accretion of discounts to maturity. Such amortization is recorded in interest income. The cost of securities sold is based on the specific identification method. Realized gains and losses on the sale of debt securities and declines in value judged to be other than temporary are recorded on a net basis in other income. Interest and dividends on securities classified as available-for-sale are recorded in interest income.
Variable Interest Entity: We have an investment in a joint venture, Dynamic Fuels LLC (Dynamic Fuels), in which we have a 50% ownership interest. Dynamic Fuels qualifies as a variable interest entity for which we consolidate as we are the primary beneficiary. At September 28, 2013, Dynamic Fuels had $166 million of total assets, of which $142 million was net property, plant and equipment, and $113 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.
Accrued Self-Insurance: We use a combination of insurance and self-insurance mechanisms in an effort to mitigate the potential liabilities for health and welfare, workers’ compensation, auto liability and general liability risks. Liabilities associated with our risks retained are estimated, in part, by considering claims experience, demographic factors, severity factors and other actuarial assumptions.
Capital Stock: We have two classes of capital stock, Class A Common Stock, $0.10 par value (Class A stock) and Class B Common Stock, $0.10 par value (Class B stock). Holders of Class B stock may convert such stock into Class A stock on a share-for-share basis. Holders of Class B stock are entitled to 10 votes per share, while holders of Class A stock are entitled to one vote per share on matters submitted to shareholders for approval. As of September 28, 2013, Tyson Limited Partnership (the TLP) owned 99.981% of the outstanding shares of Class B stock and the TLP and members of the Tyson family owned, in the aggregate, 2.09% of the outstanding shares of Class A stock, giving them, collectively, control of approximately 72.46% of the total voting power of the outstanding voting 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 the cash dividend paid to holders of Class B stock cannot exceed 90% of the cash dividend simultaneously paid to holders of Class A stock. We pay quarterly cash dividends to Class A and Class B shareholders. On November 14, 2013, the Board of Directors increased the quarterly dividend previously declared on August 1, 2013, to $0.0750 per share on our Class A common stock and $0.0675 per share on our Class B common stock. The increased quarterly dividend is payable on December 13, 2013, to shareholders of record at the close of business on November 29, 2013. We paid Class A dividends per share of $0.30 and Class B dividends per share of $0.27 in fiscal 2013 which includes a special dividend of $0.10 per share for Class A stock and $0.09 per share for Class B stock paid on December 14, 2012, to shareholders of record on November 30, 2012. We paid Class A dividends per share of $0.16 and Class B dividends per share of $0.144 in each of fiscal years 2012 and 2011.
The Class B stock is considered a participating security requiring the use of the two-class method for the computation of basic earnings per share. The two-class computation method for each period reflects the cash dividends paid for each class of stock, plus the amount of allocated undistributed earnings (losses) computed using the participation percentage, which reflects the dividend rights of each class of stock. Basic earnings per share were computed using the two-class method for all periods presented. The shares of Class B stock are considered to be participating convertible securities since the shares of Class B stock are convertible on a share-for-share basis into shares of Class A stock. Diluted earnings per share were computed assuming the conversion of the Class B shares into Class A shares as of the beginning of each period.
On May 11, 2011, we announced our Board of Directors reactivated a share repurchase program, which had no activity since fiscal 2005, to repurchase up to the remaining available 22.5 million shares of Class A common stock under the program. In May 2012, our Board of Directors approved an increase of 35 million shares authorized for repurchase under our share repurchase program. As of September 28, 2013, 14.2 million shares remained available for repurchase. 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.
A summary of cumulative share repurchases of our Class A Stock is as follows:
 
 
 
 
 
 
 
 
 
 
in millions
 
 
 
September 28, 2013
 
September 29, 2012
 
October 1, 2011
 
 
Shares
 
Dollars
 
Shares
 
Dollars
 
Shares
 
Dollars
Shares repurchased:
 
 
 
 
 
 
 
 
 
 
 
 
Under share repurchase program
 
21.1

 
$
550

 
12.5

 
$
230

 
9.7

 
$
170

To fund certain obligations under equity compensation plans
 
2.8

 
64

 
1.8

 
34

 
2.0

 
37

Total share repurchases
 
23.9

 
$
614

 
14.3

 
$
264

 
11.7

 
$
207


Financial Instruments: We purchase certain commodities, such as grains and livestock in the course of normal operations. As part of our commodity risk management activities, we use derivative financial instruments, primarily futures and options, to reduce our exposure to various market risks related to these purchases, as well as to changes in foreign currency exchange rates. Contract terms of a financial instrument qualifying as a hedge instrument closely mirror those of the hedged item, providing a high degree of risk reduction and correlation. Contracts designated and highly effective at meeting risk reduction and correlation criteria are recorded using hedge accounting. If a derivative instrument is accounted for as a hedge, changes in the fair value of the instrument will be offset either against the change in fair value of the hedged assets, liabilities or firm commitments through earnings or recognized in other comprehensive income (loss) until the hedged item is recognized in earnings. The ineffective portion of an instrument’s change in fair value is immediately recognized in earnings as a component of cost of sales. Instruments we hold as part of our risk management activities that do not meet the criteria for hedge accounting are marked to fair value with unrealized gains or losses reported currently in earnings. Changes in market value of derivatives used in our risk management activities relating to forward sales contracts are recorded in sales, while changes surrounding inventories on hand or anticipated purchases of inventories or supplies are recorded in cost of sales. We generally do not hedge anticipated transactions beyond 18 months .
Revenue Recognition: We recognize revenue when title and risk of loss are transferred to customers, which is generally on delivery based on terms of sale. Revenue is recognized as the net amount estimated to be received after deducting estimated amounts for discounts, trade allowances and product terms.
Litigation Reserves: There are a variety of legal proceedings pending or threatened against us. Accruals are recorded when it is probable a liability has been incurred and the amount of the liability can be reasonably estimated based on current law, progress of each case, opinions and views of legal counsel and other advisers, our experience in similar matters and intended response to the litigation. These amounts, which are not discounted and are exclusive of claims against third parties, are adjusted periodically as assessment efforts progress or additional information becomes available. We expense amounts for administering or litigating claims as incurred. Accruals for legal proceedings are included in Other current liabilities in the Consolidated Balance Sheets.
Freight Expense: Freight expense associated with products shipped to customers is recognized in cost of sales.
Advertising and Promotion Expenses: Advertising and promotion expenses are charged to operations in the period incurred. Customer incentive and trade promotion activities are recorded as a reduction to sales based on amounts estimated as being due to customers, based primarily on historical utilization and redemption rates, while other advertising and promotional activities are recorded as selling, general and administrative expenses. Advertising and promotion expenses for fiscal 2013, 2012 and 2011 were $555 million, $496 million and $552 million, respectively.
Research and Development: Research and development costs are expensed as incurred. Research and development costs totaled $50 million, $43 million and $42 million in fiscal 2013, 2012 and 2011, respectively.
Use of Estimates: The consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States, which require us to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.
Recently Issued Accounting Pronouncements: In December 2011 and February 2013, the Financial Accounting Standards Board (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 financial statements.
Changes In Accounting Principles
Changes In Accounting Principles
CHANGES IN ACCOUNTING PRINCIPLES
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 2013. The adoption required a separate statement of comprehensive income and additional disclosures on our consolidated 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 2013. The adoption required additional disclosures in our consolidated financial statements.
In July 2013, the FASB issued guidance to eliminate the diversity in practice in the presentation of unrecognized tax benefits when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. Under this guidance, an unrecognized tax benefit, or a portion of an unrecognized tax benefit, should be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, except in certain circumstances. We adopted this guidance in the fourth quarter of fiscal 2013. The adoption did not have a significant impact on our consolidated financial statements.
Acquisitions
Acquisitions
ACQUISITIONS
During 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.
In fiscal 2011, we paid $66 million to purchase the minority partner's 40% equity interest in our Shandong Tyson Xinchang Foods' subsidiaries, pursuant to the minority partner's exercise of put options.
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 previously 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, we conducted an impairment test and recorded a $56 million impairment charge. We subsequently sold 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 as its carrying value approximated the sales proceeds at the time of sale. Weifang's prior periods results, including the impairment charge, have been reclassified and presented as a discontinued operation in our Consolidated Statements of Income. The following is a summary of the discontinued operation's results:
 
 
 
 
 
 
in millions

 
 
2013

 
2012

 
2011

Sales
 
$
108

 
$
223

 
$
234

 
 
 
 
 
 
 
Pretax loss
 
(68
)
 
(38
)
 
(4
)
Income tax expense
 
2

 
—

 
1

Loss from discontinued operation, net of tax
 
$
(70
)
 
$
(38
)
 
$
(5
)
Property, Plant And Equipment
Property, Plant And Equipment
PROPERTY, PLANT AND EQUIPMENT
The following table reflects major categories of property, plant and equipment and accumulated depreciation at September 28, 2013, and September 29, 2012:
 
in millions
 
 
2013

 
2012

Land
$
100

 
$
101

Building and leasehold improvements
2,945

 
2,868

Machinery and equipment
5,504

 
5,208

Land improvements and other
417

 
408

Buildings and equipment under construction
236

 
298

 
9,202

 
8,883

Less accumulated depreciation
5,149

 
4,861

Net property, plant and equipment
$
4,053

 
$
4,022


Approximately $418 million will be required to complete buildings and equipment under construction at September 28, 2013.
Goodwill And Other Intangible Assets
Goodwill And Other Intangible Assets
GOODWILL AND OTHER INTANGIBLE ASSETS
The following table reflects goodwill activity for fiscal 2013 and 2012:
in millions
 
 
Chicken

 
Beef

 
Pork

 
Prepared
Foods

 
International

 
Consolidated

Balance at October 1, 2011
 
 
 
 
 
 
 
 
 
 
 
Goodwill
$
911

 
$
1,123

 
$
317

 
$
63

 
$
67

 
$
2,481

Accumulated impairment losses
—

 
(560
)
 
—

 
—

 
(29
)
 
(589
)
 
911

 
563

 
317

 
63

 
38

 
1,892

Fiscal 2012 Activity:
 
 
 
 
 
 
 
 
 
 
 
Impairment losses
—

 
—

 
—

 
—

 
—

 
—

Currency translation and other
(2
)
 
—

 
—

 
—

 
1

 
(1
)
Balance at September 29, 2012
 
 
 
 
 
 
 
 
 
 
 
Goodwill
909

 
1,123

 
317

 
63

 
68

 
2,480

Accumulated impairment losses
—

 
(560
)
 
—

 
—

 
(29
)
 
(589
)
 
$
909

 
$
563

 
$
317

 
$
63

 
$
39

 
$
1,891

 
 
 
 
 
 
 
 
 
 
 
 
Fiscal 2013 Activity:
 
 
 
 
 
 
 
 
 
 
 
Acquisition
$
—

 
$
—

 
$
—

 
$
12

 
$
—

 
$
12

Impairment losses
—

 
—

 
—

 
—

 
—

 
—

Currency translation and other
(1
)
 
—

 
—

 
—

 
—

 
(1
)
Balance at September 28, 2013
 
 
 
 
 
 
 
 
 
 
 
Goodwill
908

 
1,123

 
317

 
75

 
68

 
2,491

Accumulated impairment losses
—

 
(560
)
 
—

 
—

 
(29
)
 
(589
)
 
$
908

 
$
563

 
$
317

 
$
75

 
$
39

 
$
1,902


The following table reflects other intangible assets by type at September 28, 2013, and September 29, 2012:
in millions
 
 
2013

 
2012

Gross carrying value:
 
 
 
Trademarks
$
85

 
$
56

Patents, intellectual property and other
152

 
142

Land use rights
8

 
21

Less accumulated amortization
107

 
90

Total intangible assets
$
138

 
$
129


Beginning with the date benefits are realized, other intangible assets are generally amortized using the straight-line method over their estimated period of benefit of three to 30 years. Amortization expense of $17 million, $16 million and $18 million was recognized during fiscal 2013, 2012 and 2011, respectively. We estimate amortization expense on intangible assets for the next five fiscal years subsequent to September 28, 2013, will be: 2014 - $18 million; 2015 - $18 million; 2016 - $17 million; 2017 - $14 million; 2018 - $13 million.
Other Current Liabilities
Other Current Liabilities
OTHER CURRENT LIABILITIES
Other current liabilities at September 28, 2013, and September 29, 2012, include:
 
in millions
 
 
2013

 
2012

Accrued salaries, wages and benefits
$
419

 
$
382

Self-insurance reserves
267

 
274

Other
452

 
287

Total other current liabilities
$
1,138

 
$
943

Debt
Debt
DEBT
The following table reflects major components of debt as of September 28, 2013, and September 29, 2012:
 
 
 
in millions

 
2013

 
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
(6
)
 
(28
)
GO Zone tax-exempt bonds due October 2033 (0.07% at 9/28/2013)
100

 
100

Other
80

 
126

Total debt
2,408

 
2,432

Less current debt
513

 
515

Total long-term debt
$
1,895

 
$
1,917


Annual maturities of debt for the five fiscal years subsequent to September 28, 2013, are: 2014 - $514 million; 2015 - $12 million; 2016 - $645 million; 2017 - $4 million; 2018 - $120 million.
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 September 28, 2013, was $958 million. At September 28, 2013, we had outstanding letters of credit issued under this facility totaling $42 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. 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 $22.16 per share, subject to adjustment. The warrants are exercisable on various dates from January 2014 through April 2014.
The convertible note hedge and warrant transactions, in effect, increased the conversion price of the 2013 Notes from $16.78 per share to $22.16 per share, thus reducing the potential future economic dilution associated with conversion of the 2013 Notes. If our share price is below $22.16 upon exercise of the warrants, there is no economic net share impact. A 10% increase in our share price above the $22.16 warrant exercise price would result in the issuance of 2.5 million incremental shares. At $28.60, our closing share price on September 28, 2013, the incremental shares we would be required to issue upon exercise of the warrants would have resulted in 6.1 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.
The 2013 Notes matured on October 15, 2013 at which time we paid the $458 million principal value with cash on hand, and settled the conversion premium by issuing 11.7 million shares of our Class A stock from available treasury shares. Simultaneous to the settlement of the conversion premium, we received 11.7 million shares of our Class A stock from the call options.
2016 Notes
On February 24, 2011, S&P upgraded the credit rating of these notes from "BB+" to "BBB-." On March 29, 2011, Moody’s upgraded our credit rating from "Ba2" to "Ba1." These upgrades decreased the interest rate on the 2016 Notes from 7.35% to 6.85%, effective beginning with the six-month interest payment due April 1, 2011.
On June 7, 2012, Moody's upgraded the credit rating of these 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.
2022 Notes
In June 2012, we issued $1.0 billion of senior unsecured notes, which will mature in June 2022. The 2022 Notes carry a 4.50% interest rate, with interest payments due semi-annually on June 15 and December 15. After the original issue discount of $5 million, based on an issue price of 99.458%, we received net proceeds of $995 million. In addition, we incurred offering expenses of $9 million.
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. We issued a letter of credit to effectively guarantee the bond issuance. If any amounts are disbursed related to this guarantee, we would seek recovery of 50% (up to $50 million) from Syntroleum Corporation, our joint venture partner, 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 September 28, 2013.
Income Taxes
Income Taxes
INCOME TAXES
Detail of the provision for income taxes from continuing operations consists of the following:
 
 
 
 
 
in millions  

 
2013

 
2012

 
2011

Federal
$
341

 
$
310

 
$
320

State
38

 
22

 
21

Foreign
30

 
19

 
(1
)
 
$
409

 
$
351

 
$
340

 
 
 
 
 
 
Current
$
421

 
$
211

 
$
254

Deferred
(12
)
 
140

 
86

 
$
409

 
$
351

 
$
340


The reasons for the difference between the statutory federal income tax rate and our effective income tax rate from continuing operations are as follows:
 
2013

 
2012

 
2011

Federal income tax rate
35.0
 %
 
35.0
 %
 
35.0
 %
State income taxes
2.4

 
1.5

 
1.6

General business credits
(1.3
)
 
(0.7
)
 
(0.9
)
Domestic production deduction
(3.2
)
 
(1.8
)
 
(2.3
)
Foreign rate differences and valuation allowances
0.3

 
1.8

 
—

Other
(0.6
)
 
0.6

 
(1.8
)
 
32.6
 %
 
36.4
 %
 
31.6
 %


During fiscal 2013, the domestic production deduction and estimated general business credits decreased tax expense by $40 million and $17 million, respectively.
During fiscal 2012, foreign valuation allowances increased tax expense by $10 million, and the domestic production deduction decreased tax expense by $17 million.
During fiscal 2011, the domestic production deduction and estimated general business credits decreased tax expense by $25 million and $9 million, respectively.
Approximately $53 million, $2 million and $36 million of income from continuing operations before income taxes for fiscal 2013, 2012 and 2011, respectively, were from operations based in countries other than the United States.
We recognize deferred income taxes for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled.
The tax effects of major items recorded as deferred tax assets and liabilities as of September 28, 2013, and September 29, 2012, are as follows:
 
 
 
 
 
 
 
in millions

 
2013
 
2012
 
Deferred Tax
 
Deferred Tax
 
Assets

 
Liabilities

 
Assets

 
Liabilities

Property, plant and equipment
$
—

 
$
525

 
$
—

 
$
542

Suspended taxes from conversion to accrual method
—

 
71

 
—

 
76

Intangible assets
—

 
29

 
—

 
35

Inventory
8

 
110

 
9

 
105

Accrued expenses
209

 
—

 
193

 
—

Net operating loss and other carryforwards
77

 
—

 
101

 
—

Insurance reserves
22

 
—

 
21

 
—

Other
60

 
98

 
69

 
90

 
$
376

 
$
833

 
$
393

 
$
848

Valuation allowance
$
(77
)
 
 
 
$
(78
)
 
 
Net deferred tax liability
 
 
$
534

 
 
 
$
533


We record deferred tax amounts in Other current assets, Other Assets, Other current liabilities and Deferred Income Taxes in the Consolidated Balance Sheets.
The deferred tax liability for suspended taxes from conversion to accrual method represents the 1987 change from the cash to accrual method of accounting and will be recognized by 2027.
At September 28, 2013, our gross state tax net operating loss carryforwards approximated $457 million and expire in fiscal years 2014 through 2033. Gross foreign net operating loss carryforwards approximated $116 million, of which $27 million expire in fiscal years 2017 through 2022, and the remainder has no expiration. We also have tax credit carryforwards of approximately $22 million that expire in fiscal years 2014 through 2027.
We have accumulated undistributed earnings of foreign subsidiaries aggregating approximately $351 million and $230 million at September 28, 2013, and September 29, 2012, respectively. These earnings are expected to be indefinitely reinvested outside of the United States. If those earnings were distributed in the form of dividends or otherwise, we would be subject to federal income taxes (subject to an adjustment for foreign tax credits), state income taxes and withholding taxes payable to the various foreign countries. It is not currently practicable to estimate the tax liability that might be payable on the repatriation of these foreign earnings.
The following table summarizes the activity related to our gross unrecognized tax benefits at September 28, 2013, September 29, 2012, and October 1, 2011:
 
 
 
 
 
in millions

 
2013

 
2012

 
2011

Balance as of the beginning of the year
$
168

 
$
174

 
$
184

Increases related to current year tax positions
3

 
3

 
4

Increases related to prior year tax positions
15

 
5

 
21

Reductions related to prior year tax positions
(6
)
 
(10
)
 
(24
)
Reductions related to settlements
(2
)
 
(1
)
 
(9
)
Reductions related to expirations of statute of limitations
(3
)
 
(3
)
 
(2
)
Balance as of the end of the year
$
175

 
$
168

 
$
174

The amount of unrecognized tax benefits, if recognized, that would impact our effective tax rate was $149 million and $154 million at September 28, 2013, and September 29, 2012, respectively. We classify interest and penalties on unrecognized tax benefits as income tax expense. At September 28, 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.
As of September 28, 2013, we are subject to income tax examinations for U.S. federal income taxes for fiscal years 2004 through 2012. We are also subject to income tax examinations by major state and foreign jurisdictions for fiscal years 2003 through 2012 and 2002 through 2012, respectively. We estimate that during the next twelve months it is reasonably possible that unrecognized tax benefits could decrease by as much as $44 million primarily due to expiration of statutes in various jurisdictions and settlements with taxing authorities.
Other Income And Charges
Other Income And Charges
OTHER INCOME AND CHARGES
During 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 Statements of Income in Other, net.
During fiscal 2012, we recorded $16 million of equity earnings in joint ventures and $4 million in net foreign currency exchange gains, which were recorded in the Consolidated Statements of Income in Other, net.
During fiscal 2011, we recorded an $11 million gain related to a sale of interests in an equity method investment. This gain was recorded in the Consolidated Statements of Income in Other, net.
Earnings Per Share
Earnings Per Share
EARNINGS PER SHARE
The earnings and weighted average common shares used in the computation of basic and diluted earnings per share are as follows:
 
in millions, except per share data
 
 
2013

 
2012

 
2011

Numerator:
 
 
 
 
 
Income from continuing operations
$
848

 
$
614

 
$
738

Less: Net loss from continuing operations attributable to noncontrolling interests
—

 
(7
)
 
(14
)
Net income from continuing operations attributable to Tyson
848

 
621

 
752

Less dividends declared:
 
 
 
 
 
Class A
87

 
47

 
49

Class B
19

 
10

 
10

Undistributed earnings
$
742

 
$
564

 
$
693

 
 
 
 
 
 
Class A undistributed earnings
$
606

 
$
464

 
$
574

Class B undistributed earnings
136

 
100

 
119

Total undistributed earnings
$
742

 
$
564

 
$
693

 
 
 
 
 
 
Denominator:
 
 
 
 
 
Denominator for basic earnings per share:
 
 
 
 
 
Class A weighted average shares
282

 
293

 
303

Class B weighted average shares, and shares under if-converted method for diluted earnings per share
70

 
70

 
70

Effect of dilutive securities:
 
 
 
 
 
Stock options and restricted stock
5

 
4

 
6

Convertible 2013 Notes
7

 
3

 
1

Warrants
3

 
—

 
—

Denominator for diluted earnings per share – adjusted weighted average shares and assumed conversions
367

 
370

 
380

 
 
 
 
 
 
Net Income Per Share from Continuing Operations Attributable to Tyson:
 
 
 
 
Class A Basic
$
2.46

 
$
1.75

 
$
2.05

Class B Basic
$
2.22

 
$
1.57

 
$
1.84

Diluted
$
2.31

 
$
1.68

 
$
1.98

 
 
 
 
 
 
Net Income Per Share Attributable to Tyson:
 
 
 
 
 
Class A Basic
$
2.26

 
$
1.64

 
$
2.04

Class B Basic
$
2.04

 
$
1.48

 
$
1.84

Diluted
$
2.12

 
$
1.58

 
$
1.97


We had no stock-based compensation shares that were antidilutive for fiscal 2013. Approximately 4 million of our stock-based compensation shares were antidilutive for fiscal 2012 and 2011. 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 September 28, 2013.
We recognize all derivative instruments as either assets or liabilities at fair value in the Consolidated 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., cash flow hedge or fair value hedge). 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 of firm commitments (i.e., livestock).
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 during fiscal 2013, 2012 and 2011.
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
 
September 28, 2013

 
September 29, 2012

Commodity:
 
 
 
 
 
 
Corn
 
Bushels
 
5

 
12

Soy Meal
 
Tons
 
96,800

 
164,700

Foreign Currency
 
United States dollar
 
$
60

 
$
80


As of September 28, 2013, the net amounts expected to be reclassified into earnings within the next 12 months are pretax losses of $7 million related to grain and pretax gains of $1 million related to foreign currency. During fiscal 2013, 2012 and 2011, 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 in the Consolidated Statements of Income:
 
 
 
 
 
 
 
 
 
 
 
in millions
 
 
Gain/(Loss)
Recognized in OCI
on Derivatives
 
 
Consolidated
Statements of Income
Classification
 
Gain/(Loss)
Reclassified from
OCI to Earnings
 
 
2013

 
2012

 
2011

 
 
 
2013

 
2012

 
2011

Cash Flow Hedge – Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
 
 
 
 
 
 
Commodity contracts
$
(29
)
 
$
24

 
$
(5
)
 
Cost of Sales
 
$
(5
)
 
$
(16
)
 
$
25

Foreign exchange contracts
(2
)
 
(8
)
 
9

 
Other Income/Expense
 
(4
)
 
4

 
—

Total
$
(31
)
 
$
16

 
$
4

 
 
 
$
(9
)
 
$
(12
)
 
$
25


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 firm commitments which are accounted for as a fair value hedge:
 
 
 
 
 
 
in millions

 
 
Metric
 
September 28, 2013

 
September 29, 2012

Commodity:
 
 
 
 
 
 
Live Cattle
 
Pounds
 
209

 
232

Lean Hogs
 
Pounds
 
384

 
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
Statements of Income
Classification
 
2013

 
2012

 
2011

Gain/(Loss) on forwards
 
Cost of Sales
 
$
21

 
$
47

 
$
(78
)
Gain/(Loss) on purchase contract
 
Cost of Sales
 
(21
)
 
(47
)
 
78


Ineffectiveness related to our fair value hedges was not significant during fiscal 2013, 2012 and 2011.
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 and foreign currency 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.
We had the following aggregate outstanding notional values related to our undesignated positions:
 
 
 
 
in millions, except soy meal tons
 
 
 
Metric
 
September 28, 2013

 
September 29, 2012

Commodity:
 
 
 
 
 
 
Corn
 
Bushels
 
69

 
19

Soy Meal
 
Tons
 
204,600

 
1,200

Soy Oil
 
Pounds
 
11

 
17

Live Cattle
 
Pounds
 
60

 
68

Lean Hogs
 
Pounds
 
159

 
108

Foreign Currency
 
United States dollars
 
$
95

 
$
165


The following table sets forth the pretax impact of the undesignated derivative instruments in the Consolidated Statements of Income:
 
 
 
 
in millions
 
 
 
Consolidated
Statements of Income
Classification
 
Gain/(Loss)
Recognized
in Earnings
 
 
 
 
 
2013

 
2012

 
2011

Derivatives not designated as hedging instruments:
 
 
 
 
 
 
 
 
Commodity contracts
 
Sales
 
$
(10
)
 
$
(10
)
 
$
20

Commodity contracts
 
Cost of Sales
 
(24
)
 
51

 
(2
)
Foreign exchange contracts
 
Other Income/Expense
 
2

 
—

 
(3
)
Total
 
 
 
$
(32
)
 
$
41

 
$
15


The following table sets forth the fair value of all derivative instruments outstanding in the Consolidated Balance Sheets:
 
in millions
 
 
Fair Value
 
September 28, 2013

 
September 29, 2012

Derivative Assets:
 
 
 
Derivatives designated as hedging instruments:
 
 
 
Commodity contracts
$
4

 
$
32

Foreign exchange contracts
1

 
—

Total derivative assets – designated
5

 
32

 
 
 
 
Derivatives not designated as hedging instruments:
 
 
 
Commodity contracts
25

 
21

Foreign exchange contracts
2

 
1

Total derivative assets – not designated
27

 
22

 
 
 
 
Total derivative assets
$
32

 
$
54

Derivative Liabilities:
 
 
 
Derivatives designated as hedging instruments:
 
 
 
Commodity contracts
$
29

 
$
6

Foreign exchange contracts
—

 
1

Total derivative liabilities – designated
29

 
7

 
 
 
 
Derivatives not designated as hedging instruments:
 
 
 
Commodity contracts
72

 
96

Foreign exchange contracts
1

 
2

Total derivative liabilities – not designated
73

 
98

 
 
 
 
Total derivative liabilities
$
102

 
$
105


Our derivative assets and liabilities are presented in our Consolidated 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 13: Fair Value Measurements for a reconciliation to amounts reported in the Consolidated 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
 
September 28, 2013
Level 1

 
Level 2

 
Level 3

 
Netting (a)

 
Total

Assets:
 
 
 
 
 
 
 
 
 
Commodity Derivatives
$
—

 
$
29

 
$
—

 
$
(21
)
 
$
8

Foreign Exchange Forward Contracts
—

 
3

 
—

 
(1
)
 
2

Available for Sale Securities:
 
 
 
 
 
 
 
 
 
Current
—

 
1

 
—

 
—

 
1

Non-current
4

 
24

 
65

 
—

 
93

Deferred Compensation Assets
23

 
191

 
—

 
—

 
214

Total Assets
$
27

 
$
248

 
$
65

 
$
(22
)
 
$
318

 
 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
 
Commodity Derivatives
$
—

 
$
101

 
$
—

 
$
(101
)
 
$
—

Foreign Exchange Forward Contracts
—

 
1

 
—

 
—

 
1

Total Liabilities
$
—

 
$
102

 
$
—

 
$
(101
)
 
$
1

 
 
 
 
 
 
 
 
 
 
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 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 September 28, 2013, and September 29, 2012, we had posted with various counterparties $79 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

 
September 28, 2013

 
September 29, 2012

Balance at beginning of year
$
86

 
$
83

Total realized and unrealized gains (losses):
 
 
 
Included in earnings
1

 
1

Included in other comprehensive income (loss)
—

 
—

Purchases
19

 
28

Issuances
—

 
—

Settlements
(41
)
 
(26
)
Balance at end of year
$
65

 
$
86

Total gains (losses) for the periods included in earnings attributable to the change in unrealized gains (losses) relating to assets and liabilities still held at end of year
$
—

 
$
—


The following methods and assumptions were used to estimate the fair value of each class of financial instrument:
Derivative Assets and Liabilities: Our commodities and foreign exchange forward contracts primarily include exchange-traded and over-the-counter contracts which are further described in Note 12: 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. 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 or observable market transactions of spot currency rates and forward currency prices.
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 Balance Sheets and primarily include certificates of deposit and commercial paper. All other marketable debt securities are included in Other Assets in the Consolidated 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 September 28, 2013, the privately held redeemable preferred stock had been fully redeemed. Significant changes to assumptions or unobservable inputs in the valuation of our Level 3 instruments would not have a significant impact to our consolidated financial statements.
Additionally, 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 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.

 
 
 
 
 
 
 
 
 
in millions
 
 
September 28, 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
$
25

 
$
25

 
$
—

 
$
26

 
$
27

 
$
1

Corporate and Asset-Backed (a)
64

 
65

 
1

 
64

 
66

 
2

Redeemable Preferred Stock
—

 
—

 
—

 
20

 
20

 
—

Equity Securities:
 
 
 
 
 
 
 
 
 
 
 
Common Stock and Warrants
9

 
4

 
(5
)
 
9

 
7

 
(2
)
 
(a)
At September 28, 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. During fiscal 2013, 2012 and 2011, we recognized no other than temporary impairments in earnings. No other than temporary losses were deferred in OCI as of September 28, 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 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 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 other significant measurements of assets or liabilities at fair value on a nonrecurring basis subsequent to their initial recognition.
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
 
 
September 28, 2013
 
September 29, 2012
 
Fair
Value

 
Carrying
Value

 
Fair
Value

 
Carrying
Value

Total Debt
$
2,541

 
$
2,408

 
$
2,596

 
$
2,432


Concentrations of Credit Risk
Our financial instruments exposed to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. Our cash equivalents are in high quality securities placed with major banks and financial institutions. Concentrations of credit risk with respect to receivables are limited due to the large number of customers and their dispersion across geographic areas. We perform periodic credit evaluations of our customers’ financial condition and generally do not require collateral. At September 28, 2013, and September 29, 2012, 17.5% and 17.1%, respectively, of our net accounts receivable balance was due from Wal-Mart Stores, Inc. No other single customer or customer group represented greater than 10% of net accounts receivable.
Stock-Based Compensation
Stock-Based Compensation
STOCK-BASED COMPENSATION
We issue shares under our stock-based compensation plans by issuing Class A stock from treasury. The total number of shares available for future grant under the Tyson Foods, Inc. 2000 Stock Incentive Plan (Incentive Plan) was 35,365,400 at September 28, 2013.
Stock Options
Shareholders approved the Incentive Plan in January 2001. The Incentive Plan is administered by the Compensation and Leadership Development Committee of the Board of Directors (Compensation Committee). The Incentive Plan includes provisions for granting incentive stock options for shares of Class A stock at a price not less than the fair value at the date of grant. Nonqualified stock options may be granted at a price equal to or more than the fair value of Class A stock on the date the option is granted. Stock options under the Incentive Plan generally become exercisable ratably over three years from the date of grant and must be exercised within 10 years from the date of grant. Our policy is to recognize compensation expense on a straight-line basis over the requisite service period for the entire award.
 
Shares Under
Option

 
Weighted
Average Exercise
Price Per Share

 
Weighted Average
Remaining
Contractual Life
(in Years)
 
Aggregate
Intrinsic Value
(in millions)

Outstanding, September 29, 2012
19,067,360

 
$
14.82

 
 
 
 
Exercised
(8,778,028
)
 
13.96

 
 
 
 
Canceled
(177,144
)
 
16.04

 
 
 
 
Granted
3,799,980

 
19.36

 
 
 
 
Outstanding, September 28, 2013
13,912,168

 
16.59

 
6.8
 
$
167

 
 
 
 
 
 
 
 
Exercisable, September 28, 2013
6,423,287

 
$
14.87

 
4.9
 
$
88


We generally grant stock options once a year. The weighted average grant-date fair value of options granted in fiscal 2013, 2012 and 2011 was $6.44, $6.99 and $6.19, respectively. The fair value of each option grant is established on the date of grant using a binomial lattice method. We use historical volatility for a period of time comparable to the expected life of the option to determine volatility assumptions. Expected life is calculated based on the contractual term of each grant and takes into account the historical exercise and termination behavior of participants. Risk-free interest rates are based on the five-year Treasury bond rate. Assumptions as of the grant date used in the fair value calculation of each year’s grants are outlined in the following table.
 
2013

 
2012

 
2011

Expected life (in years)
6.2

 
6.7

 
6.7

Risk-free interest rate
0.7
%
 
0.9
%
 
1.5
%
Expected volatility
36.8
%
 
36.6
%
 
38.8
%
Expected dividend yield
1.0
%
 
1.0
%
 
1.0
%

We recognized stock-based compensation expense related to stock options, net of income taxes, of $14 million, $15 million and $12 million for fiscal 2013, 2012 and 2011, respectively. The related tax benefit for fiscal 2013, 2012 and 2011 was $9 million, $10 million and $7 million, respectively. We had 3.9 million, 3.4 million and 3.8 million options vest in fiscal 2013, 2012 and 2011, respectively, with a grant date fair value of $22 million, $17 million and $16 million, respectively.
In fiscal 2013, 2012 and 2011, we received cash of $123 million, $34 million and $51 million, respectively, for the exercise of stock options. Shares are issued from treasury for stock option exercises. The related tax benefit realized from stock options exercised during fiscal 2013, 2012 and 2011, was $35 million, $7 million and $10 million, respectively. The total intrinsic value of options exercised in fiscal 2013, 2012 and 2011, was $90 million, $21 million and $26 million, respectively. Cash flows resulting from tax deductions in excess of the compensation cost of those options (excess tax deductions) are classified as financing cash flows. We realized $18 million, $3 million and $5 million related to excess tax deductions during fiscal 2013, 2012 and 2011, respectively.
As of September 28, 2013, we had $25 million of total unrecognized compensation cost related to stock option plans that will be recognized over a weighted average period of 1.2 years.
Restricted Stock
We issue restricted stock at the market value as of the date of grant, with restrictions expiring over periods through fiscal 2016. Unearned compensation is recognized over the vesting period for the particular grant using a straight-line method.
 
Number of Shares

 
Weighted
Average Grant-
Date Fair Value
Per Share

 
Weighted Average
Remaining
Contractual Life
(in Years)
 
Aggregate
Intrinsic Value
(in millions)

Nonvested, September 29, 2012
2,371,570

 
$
15.29

 
 
 
 
Granted
185,804

 
20.64

 
 
 
 
Dividends
21,010

 
24.68

 
 
 
 
Vested
(1,368,834
)
 
14.74

 
 
 
 
Forfeited
(70,851
)
 
17.43

 
 
 
 
Nonvested, September 28, 2013
1,138,699

 
$
16.86

 
1.0
 
$
33


As of September 28, 2013, we had $8 million of total unrecognized compensation cost related to restricted stock awards that will be recognized over a weighted average period of 1.0 year.
We recognized stock-based compensation expense related to restricted stock, net of income taxes, of $5 million, $7 million and $7 million for fiscal 2013, 2012 and 2011, respectively. The related tax benefit for fiscal 2013, 2012 and 2011 was $3 million, $4 million and $5 million, respectively. We had 1.4 million, 1.2 million and 0.9 million restricted stock awards vest in fiscal 2013, 2012 and 2011, respectively, with a grant date fair value of $20 million, $17 million and $14 million, respectively.
Performance-Based Shares
We award performance-based shares of our Class A stock to certain senior executives. These awards are typically granted once a year. Performance-based shares vest based upon the passage of time and the achievement of performance or market performance criteria, ranging from 0% to 200%, as determined by the Compensation Committee prior to the date of the award. Vesting periods for these awards are generally three years. We review progress toward the attainment of the performance criteria each quarter during the vesting period. When it is probable the minimum performance criteria for an award will be achieved, we begin recognizing the expense equal to the proportionate share of the total fair value of the Class A stock price on the grant date. The total expense recognized over the duration of performance awards will equal the Class A stock price on the date of grant multiplied by the number of shares ultimately awarded based on the level of attainment of the performance criteria. For grants with market performance criteria, the total expense recognized over the duration of the award will equal the fair value as determined on the grant date, regardless if the market performance criteria is met.
The following table summarizes the performance-based shares at the maximum award amounts based upon the respective performance share agreements. Actual shares that will vest depend on the level of attainment of the performance-based criteria.
 
Number of Shares

 
Weighted
Average Grant-
Date Fair Value
Per Share

 
Weighted Average
Remaining
Contractual Life
(in Years)
Nonvested, September 29, 2012
174,062

 
$
14.24

 
 
Granted
924,651

 
21.35

 
 
Vested
(32,468
)
 
12.35

 
 
Forfeited
(64,935
)
 
12.35

 
 
Nonvested, September 28, 2013
1,001,310

 
$
20.99

 
2.0

We recognized stock-based compensation expense related to performance shares, net of income taxes, of $2.4 million, $0.2 million and $0.3 million for fiscal 2013, 2012 and 2011, respectively. The related tax benefit for fiscal 2013, 2012 and 2011 was $1.5 million, $0.1 million and $0.2 million, respectively. As of September 28, 2013, we had $10 million of total unrecognized compensation based upon our progress toward the attainment of criteria related to performance-based share awards that will be recognized over a weighted average period of 2.0 years.
Pensions And Other Postretirement Benefits
Pensions And Other Postretirement Benefits
PENSIONS AND OTHER POSTRETIREMENT BENEFITS
At September 28, 2013, we had four noncontributory defined benefit pension plans consisting of three funded qualified plans and one unfunded non-qualified plan. All three of our qualified plans are frozen and provide benefits based on a formula using years of service and a specified benefit rate. Effective January 1, 2004, we implemented a non-qualified defined benefit plan for certain contracted officers that uses a formula based on years of service and final average salary. We also have other postretirement benefit plans for which substantially all of our employees may receive benefits if they satisfy applicable eligibility criteria. The postretirement healthcare plans are contributory with participants’ contributions adjusted when deemed necessary.
We have defined contribution retirement programs for various groups of employees. We recognized expenses of $50 million, $47 million and $45 million in fiscal 2013, 2012 and 2011, respectively.
We use a fiscal year end measurement date for our defined benefit plans and other postretirement plans. We recognize the effect of actuarial gains and losses into earnings immediately for other postretirement plans rather than amortizing the effect over future periods.
Other postretirement benefits include postretirement medical costs and life insurance.
Benefit Obligations And Funded Status
The following table provides a reconciliation of the changes in the plans’ benefit obligations, assets and funded status at September 28, 2013, and September 29, 2012:
 
 
 
 
 
 
 
 
 
in millions
 
 
Pension Benefits
 
Other Postretirement
 
Qualified
 
Non-Qualified
 
Benefits
 
2013

 
2012

 
2013

 
2012

 
2013

 
2012

Change in benefit obligation
 
 
 
 
 
 
 
 
 
 
 
Benefit obligation at beginning of year
$
101

 
$
99

 
$
81

 
$
62

 
$
64

 
$
44

Service cost
—

 
—

 
5

 
5

 
2

 
1

Interest cost
4

 
4

 
3

 
3

 
2

 
2

Plan participants’ contributions
—

 
—

 
—

 
—

 
1

 
1

Actuarial (gain)/loss
(9
)
 
5

 
(2
)
 
13

 
7

 
25

Benefits paid
(10
)
 
(7
)
 
(2
)
 
(2
)
 
(5
)
 
(9
)
Benefit obligation at end of year
86

 
101

 
85

 
81

 
71

 
64

Change in plan assets
 
 
 
 
 
 
 
 
 
 
 
Fair value of plan assets at beginning of year
86

 
74

 
—

 
—

 
—

 
—

Actual return on plan assets
3

 
13

 
—

 
—

 
—

 
—

Employer contributions
6

 
6

 
2

 
2

 
4

 
8

Plan participants’ contributions
—

 
—

 
—

 
—

 
1

 
1

Benefits paid
(10
)
 
(7
)
 
(2
)
 
(2
)
 
(5
)
 
(9
)
Fair value of plan assets at end of year
85

 
86

 
—

 
—

 
—

 
—

Funded status
$
(1
)
 
$
(15
)
 
$
(85
)
 
$
(81
)
 
$
(71
)
 
$
(64
)

Amounts recognized in the Consolidated Balance Sheets consist of:
 
 
 
 
 
 
 
 
 
in millions
 
 
Pension Benefits
 
Other Postretirement
 
Qualified
 
Non-Qualified
 
Benefits
 
2013

 
2012

 
2013

 
2012

 
2013

 
2012

Accrued benefit liability
$
(1
)
 
$
(15
)
 
$
(85
)
 
$
(81
)
 
$
(71
)
 
$
(64
)
Accumulated other comprehensive (income)/loss:
 
 
 
 
 
 
 
 
 
 
 
   Unrecognized actuarial loss
30

 
39

 
23

 
29

 
—

 
—

   Unrecognized prior service (cost)/credit
—

 
—

 
—

 
1

 
(3
)
 
(4
)
Net amount recognized
$
29

 
$
24

 
$
(62
)
 
$
(51
)
 
$
(74
)
 
$
(68
)

At September 28, 2013, three pension plans had an accumulated benefit obligation in excess of plan assets. At September 29, 2012, all pension plans had an accumulated benefit obligation in excess of plan assets. Plans with accumulated benefit obligations in excess of plan assets are as follows:
 
 
 
 
 
in millions
 
 
Pension Benefits
 
Qualified
 
Non-Qualified
 
2013

 
2012

 
2013

 
2012

Projected benefit obligation
$
27

 
$
101

 
$
85

 
$
81

Accumulated benefit obligation
27

 
101

 
72

 
69

Fair value of plan assets
26

 
86

 
—

 
—


The accumulated benefit obligation for all qualified pension plans was $86 million and $101 million at September 28, 2013, and September 29, 2012, respectively.
Net Periodic Benefit Cost
Components of net periodic benefit cost for pension and postretirement benefit plans recognized in the Consolidated Statements of Income are as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
in millions
 
 
Pension Benefits
 
Other Postretirement
 
Qualified
 
Non-Qualified
 
Benefits
 
2013

 
2012

 
2011

 
2013

 
2012

 
2011

 
2013

 
2012

 
2011

Service cost
$
—

 
$
—

 
$
—

 
$
5

 
$
5

 
$
3

 
$
2

 
$
1

 
$
—

Interest cost
4

 
4

 
5

 
3

 
3

 
2

 
2

 
2

 
2

Expected return on plan assets
(5
)
 
(6
)
 
(6
)
 
—

 
—

 
—

 
—

 
—

 
—

Amortization of prior service cost
—

 
—

 
—

 
1

 
1

 
1

 
(1
)
 
(1
)
 
(1
)
Recognized actuarial loss, net
4

 
3

 
3

 
3

 
1

 
—

 
7

 
24

 
1

Net periodic benefit cost
$
3

 
$
1

 
$
2

 
$
12

 
$
10

 
$
6

 
$
10

 
$
26

 
$
2


As of September 28, 2013, the amounts expected to be reclassified into earnings within the next 12 months related to net periodic benefit cost for the qualified and non-qualified pensions are $2 million and $2 million, respectively.
Assumptions
Weighted average assumptions are as follows:
 
Pension Benefits
 
Other Postretirement
 
Qualified
 
Non-Qualified
 
Benefits
 
2013

 
2012

 
2011

 
2013

 
2012

 
2011

 
2013

 
2012

 
2011

Discount rate to determine net periodic benefit cost
4.02
%
 
4.53
%
 
5.06
%
 
4.23
%
 
4.75
%
 
5.50
%
 
3.66
%
 
4.09
%
 
4.50
%
Discount rate to determine benefit obligations
4.77
%
 
4.02
%
 
4.53
%
 
5.09
%
 
4.23
%
 
4.75
%
 
4.48
%
 
3.66
%
 
4.09
%
Rate of compensation increase
N/A

 
N/A

 
N/A

 
3.50
%
 
3.50
%
 
3.50
%
 
N/A

 
N/A

 
N/A

Expected return on plan assets
5.44
%
 
6.37
%
 
7.79
%
 
N/A

 
N/A

 
N/A

 
N/A

 
N/A

 
N/A


To determine the expected return on plan assets assumption, we first examined historical rates of return for the various asset classes. We then determined a long-term projected rate-of-return based on expected returns over the next five to 10 years.
Our discount rate assumptions used to account for pension and other postretirement benefit plans reflect the rates at which the benefit obligations could be effectively settled. These were determined using a cash flow matching technique whereby the rates of a yield curve, developed from high-quality debt securities, were applied to the benefit obligations to determine the appropriate discount rate.
We have three other postretirement benefit plans which are all healthcare related. Two of these plans, which benefit obligations totaled $23 million at September 28, 2013, were not impacted by healthcare cost trend rates as they consist of fixed annual payments. The remaining plan, which benefit obligation was $48 million at September 28, 2013, covers retirees who do not yet qualify for Medicare and utilized an assumed healthcare cost trend rate of 7.6%. A one-percentage point increase in assumed healthcare cost trend rate would have a $9 million impact on the postretirement benefit obligation. A one-percentage point decrease in assumed healthcare cost trend rate would have a $5 million impact on the postretirement benefit obligation.
Plan Assets
The fair value of plan assets for domestic pension benefit plans was $71 million and $69 million as of September 28, 2013, and September 29, 2012, respectively. The following table sets forth the actual and target asset allocation for pension plan assets:
 
2013

 
2012

 
Target Asset
Allocation

Cash
1.6
%
 
1.6
%
 
—
%
Fixed Income Securities
79.1

 
46.0

 
83.0

U.S. Stock Funds
4.3

 
23.5

 
5.1

International Stock Funds
7.3

 
23.5

 
5.1

Real Estate
3.8

 
5.0

 
3.4

Alternatives
3.9

 
0.4

 
3.4

Total
100.0
%
 
100.0
%
 
100.0
%

A foreign subsidiary pension plan had $14 million and $17 million in plan assets at September 28, 2013, and September 29, 2012, respectively. All of this plan’s assets are held in an insurance contract consistent with its target asset allocation.
The plan trustees have established a set of investment objectives related to the assets of the domestic pension plans and regularly monitor the performance of the funds and portfolio managers. Objectives for the pension assets are (i) to provide growth of capital and income, (ii) to achieve a target weighted average annual rate of return competitive with other funds with similar investment objectives and (iii) to diversify to reduce risk. The investment objectives and target asset allocation were amended for fiscal 2013. Alternative investments may include, but are not limited to, hedge funds, private equity funds and fixed income funds.
The following table shows the categories of pension plan assets and the level under which fair values were determined in the fair value hierarchy, which is described in Note 13: Fair Value Measurements.
 
in millions
 
 
September 28, 2013
 
Level 1

 
Level 2 (a)

 
Level 3 (b)

 
Total

Cash and cash equivalents
$
1

 
$
—

 
$
—

 
$
1

Fixed Income Securities Bond Fund
—

 
56

 
—

 
56

Equity Securities:
 
 
 
 
 
 
 
U.S. stock funds
—

 
3

 
—

 
3

International stock funds
—

 
5

 
—

 
5

Global real estate funds
—

 
3

 
—

 
3

Total equity securities
—

 
11

 
—

 
11

Alternative Funds
—

 
—

 
3

 
3

Insurance Contract
—

 
—

 
14

 
14

Total plan assets
$
1

 
$
67

 
$
17

 
$
85

(a)
Valued using the net asset value (NAV) provided by the trustee, which is a practical expedient to estimating fair value. The NAV is based on the fair value of the underlying investments within the funds and is determined daily.
(b)
Valued using the plan’s own assumptions about the assumptions market participants would use in pricing the assets based on the best information available, such as investment manager pricing.
A reconciliation of the change in the fair value measurement of the defined benefit plans’ consolidated assets using significant unobservable inputs (Level 3) is as follows:
 
 
 
in millions
 
 
Alternative funds

 
Insurance contract

 
Total

Balance at September 29, 2012
$
—

 
$
17

 
$
17

Actual return on plan assets:
 
 
 
 
 
Assets still held at reporting date
—

 
1

 
1

Assets sold during the period
—

 
—

 
—

Purchases, sales and settlements, net
3

 
(4
)
 
(1
)
Transfers in and/or out of Level 3
—

 
—

 
—

Balance at September 28, 2013
$
3

 
$
14

 
$
17


We believe there are no significant concentrations of risk within our plan assets as of September 28, 2013.
Contributions
Our policy is to fund at least the minimum contribution required to meet applicable federal employee benefit and local tax laws. In our sole discretion, we may from time to time fund additional amounts. Expected contributions to pension plans for fiscal 2014 are approximately $8 million. For fiscal 2013, 2012 and 2011, we funded $8 million, $8 million and $7 million, respectively, to pension plans.
Estimated Future Benefit Payments
The following benefit payments are expected to be paid:
 
 
 
 
 
in millions

 
Pension Benefits
 
Other Postretirement

 
Qualified

 
Non-Qualified

 
Benefits

2014
$
6

 
$
2

 
$
6

2015
7

 
3

 
6

2016
5

 
3

 
6

2017
5

 
3

 
5

2018
6

 
4

 
5

2019-2023
27

 
27

 
29


The above benefit payments for other postretirement benefit plans are not expected to be offset by Medicare Part D subsidies in 2013 or thereafter.
Comprehensive Income (Loss)
Comprehensive Income (Loss)
COMPREHENSIVE INCOME (LOSS)
The components of accumulated other comprehensive loss are as follows:
 
 
 
in millions

 
2013

 
2012

Accumulated other comprehensive income (loss), net of taxes:
 
 
 
Unrealized net hedging gain (loss)
$
(4
)
 
$
10

Unrealized net gain (loss) on investments
(2
)
 
1

Currency translation adjustment
(69
)
 
(32
)
Postretirement benefits reserve adjustments
(33
)
 
(42
)
Total accumulated other comprehensive loss
$
(108
)
 
$
(63
)

The before and after tax changes in the components of other comprehensive income (loss) are as follows:
 
 
 
 
 
 
 
 
 
 
in millions
 
 
 
2013
 
2012
 
2011
 
 
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
 
$
5

$
(2
)
$
3

 
$
16

$
(7
)
$
9

 
$
(25
)
$
10

$
(15
)
(Gain) loss reclassified to Other Income/Expense
 
4

(2
)
2

 
(4
)
2

(2
)
 
—

—

—

Unrealized gain (loss)
 
(31
)
12

(19
)
 
16

(6
)
10

 
4

(6
)
(2
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Investments:
 
 
 
 
 
 
 
 
 
 
 
 
Gain reclassified to Other Income/Expense
 
(1
)
—

(1
)
 
—

—

—

 
—

—

—

Unrealized gain (loss)
 
(4
)
2

(2
)
 
—

—

—

 
(12
)
4

(8
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Currency translation:
 
 
 
 
 
 
 
 
 
 
 
 
Translation gain reclassified to Other Income/Expense
 
(19
)
(1
)
(20
)
 
—

—

—

 
—

—

—

Translation adjustment
 
(20
)
3

(17
)
 
2

1

3

 
(42
)
1

(41
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Postretirement benefits (Note 15)
 
15

(6
)
9

 
(6
)
2

(4
)
 
(21
)
8

(13
)
Total Other Comprehensive Income (Loss)
 
$
(51
)
$
6

$
(45
)
 
$
24

$
(8
)
$
16

 
$
(96
)
$
17

$
(79
)
Segment Reporting
Segment Reporting
SEGMENT REPORTING
We operate in five segments: Chicken, Beef, Pork, Prepared Foods and International. We measure segment profit as operating income (loss).
During the second quarter of fiscal 2014, we began reporting our International operation as a separate segment, which was previously included in our Chicken segment. Our International segment became a separate reportable segment as a result of changes to our internal financial reporting to align with previously announced executive leadership changes. All periods presented have been reclassified to reflect this change. Beef, Pork, Prepared Foods and Other results were not impacted by this change
Chicken: Chicken includes our domestic operations related to raising and processing live chickens into fresh, frozen and value-added chicken products, as well as sales from allied products. 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 export markets. This segment also includes logistics operations to move products through our domestic supply chain and the global operations of our chicken breeding stock subsidiary.
Beef: Beef includes our operations related to processing live fed cattle and fabricating dressed beef carcasses into primal and sub-primal meat cuts and case-ready products. 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 export markets. 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.
Pork: Pork includes our operations related to processing live market hogs and fabricating pork carcasses into primal and sub-primal cuts and case-ready products. 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 export markets. This segment also includes our live swine group, related allied product processing activities and logistics operations to move products through the supply chain.
Prepared Foods: Prepared Foods includes our operations related to manufacturing and marketing frozen and refrigerated food products and logistics operations to move products through the supply chain. Products primarily include pepperoni, bacon, sausage, beef and pork pizza toppings, pizza crusts, flour and corn tortilla products, appetizers, prepared meals, ethnic foods, soups, sauces, side dishes, meat dishes, breadsticks 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 export markets.
International: International includes our foreign operations primarily related to raising and processing live chickens into fresh, frozen and value-added chicken products in Brazil, China, India and Mexico. Products are marketed in each respective country to food retailers, foodservice distributors, restaurant operators, hotel chains, noncommercial foodservice establishments and live markets, as well as to other international export 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
 
 
Chicken

Beef

Pork

Prepared
Foods

International

Other

Intersegment
Sales

Consolidated

Fiscal year ended September 28, 2013
 
 
 
 
 
 
 
 
Sales
$
10,988

$
14,400

$
5,408

$
3,322

$
1,324

$
46

$
(1,114
)
$
34,374

Operating Income
683

296

332

101

(37
)
—

 
1,375

Total Other (Income) Expense
 
 
 
 
 
 
 
118

Income from Continuing Operations before Income Taxes
 
 
 
 
 
 
 
1,257

Depreciation
251

87

30

61

40

5

 
474

Total Assets
4,944

2,798

931

1,176

876

1,452

 
12,177

Additions to property, plant and equipment
253

105

22

87

58

33

 
558

Fiscal year ended September 29, 2012
 
 
 
 
 
 
 
 
Sales
$
10,270

$
13,755

$
5,510

$
3,237

$
1,104

$
167

$
(988
)
$
33,055

Operating Income (Loss)
554

218

417

181

(70
)
(14
)
 
1,286

Total Other (Income) Expense
 
 
 
 
 
 
 
321

Income from Continuing Operations before Income Taxes
 
 
 
 
 
 
 
965

Depreciation
228

86

30

54

40

5

 
443

Total Assets
4,934

2,634

895

960

968

1,505

 
11,896

Additions to property, plant and equipment
354

100

32

99

97

8

 
690

Fiscal year ended October 1, 2011
 
 
 
 
 
 
 
 
Sales
$
9,810

$
13,549

$
5,460

$
3,215

$
978

$
127

$
(1,107
)
$
32,032

Operating Income (Loss)
189

468

560

117

(21
)
(24
)
 
1,289

Total Other (Income) Expense
 
 
 
 
 
 
 
211

Income from Continuing Operations before Income Taxes
 
 
 
 
 
 
 
1,078

Depreciation
226

84

28

58

33

4

 
433

Total Assets
4,593

2,610

960

943

819

1,146

 
11,071

Additions to property, plant and equipment
381

88

27

58

83

6

 
643


We allocate expenses related to corporate activities to the segments, while the related assets and additions to property, plant and equipment remain in Other.
The Chicken segment had sales of $16 million, $6 million and $5 million for fiscal 2013, 2012 and 2011, respectively, from transactions with other operating segments. The Pork segment had sales of $872 million, $771 million and $816 million for fiscal 2013, 2012 and 2011, respectively, from transactions with other operating segments. The Beef segment had sales of $226 million, $211 million and $286 million for fiscal 2013, 2012 and 2011, respectively, from transactions with other operating segments.
Our largest customer, Wal-Mart Stores, Inc., accounted for 13.0%, 13.8% and 13.3% of consolidated sales in fiscal 2013, 2012 and 2011, respectively. Sales to Wal-Mart Stores, Inc. were included in the Chicken, Beef, Pork, Prepared Foods, and International segments. Any extended discontinuance of sales to this customer could, if not replaced, have a material impact on our operations.
The majority of our operations are domiciled in the United States. Approximately 96%, 95% and 96% of sales to external customers for fiscal 2013, 2012 and 2011, respectively, were sourced from the United States. Approximately $6.1 billion and $5.9 billion of long-lived assets were located in the United States at September 28, 2013, and September 29, 2012, respectively. Approximately $485 million and $564 million of long-lived assets were located in foreign countries, primarily Brazil, China, Mexico and India, at September 28, 2013, and September 29, 2012, respectively.
We sell certain products in foreign markets, primarily Brazil, Canada, Central America, China, the European Union, Japan, Mexico, the Middle East, South Korea, Taiwan, and Vietnam. Our export sales from the United States totaled $4.2 billion, $4.0 billion and $4.1 billion for fiscal 2013, 2012 and 2011, respectively. Substantially all of our export sales are facilitated through unaffiliated brokers, marketing associations and foreign sales staffs. Sales of products produced in a country other than the United States were less than 10% of consolidated sales for each of fiscal 2013, 2012 and 2011.
Supplemental Cash Flow Information
Supplemental Cash Flow Information
SUPPLEMENTAL CASH FLOWS INFORMATION
The following table summarizes cash payments for interest and income taxes:
 
 
 
 
 
in millions

 
2013

 
2012

 
2011

Interest, net of amounts capitalized
$
114

 
$
274

 
$
174

Income taxes, net of refunds
310

 
187

 
311

Commitments And Contingencies
Commitments And Contingencies
COMMITMENTS AND CONTINGENCIES
Commitments
We lease equipment, properties and certain farms for which total rentals approximated $200 million, $193 million and $183 million, in fiscal 2013, 2012 and 2011, respectively. Most leases have initial terms of up to seven years, some with varying renewal periods. The most significant obligations assumed under the terms of the leases are the upkeep of the facilities and payments of insurance and property taxes.
Minimum lease commitments under non-cancelable leases at September 28, 2013, were:
 
in millions

2014
$
97

2015
69

2016
46

2017
27

2018
16

2019 and beyond
78

Total
$
333


We guarantee obligations of certain outside third parties, which consists of a lease and grower loans, all of 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 September 28, 2013, was $64 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 $58 million, of which $52 million would 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 September 28, 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 September 28, 2013, was approximately $340 million. The total receivables under these programs were $44 million and $25 million at September 28, 2013, and September 29, 2012, respectively, and are included, net of allowance for uncollectible amounts, in Accounts Receivable in our Consolidated 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 $15 million and $10 million at September 28, 2013, and September 29, 2012, respectively.
Additionally, we enter into future purchase commitments for various items, such as grains, livestock contracts and fixed grower fees. At September 28, 2013, these commitments totaled:
 
in millions

2014
$
1,482

2015
54

2016
48

2017
33

2018
24

2019 and beyond
74

Total
$
1,715


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 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 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 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. On October 4, 2013, the District Court ordered the parties to provide a status report within ten days or the case would be dismissed without prejudice. Neither party made such a filing, so the case was dismissed without prejudice.
We have pending eleven 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); 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); Madison, Nebraska (Acosta, et al. v Tyson Foods, Inc. d.b.a Tyson Fresh Meats, Inc., D. Nebraska, February 29, 2008); Dakota City, Nebraska (Gomez, et al. v. Tyson Foods, Inc., D. Nebraska, January 16, 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); Logansport, Indiana (Carter, et al. v. Tyson Foods, Inc. and Tyson Fresh Meats, Inc., N.D. Indiana, April 29, 2008); Goodlettsville, Tennessee (Abadeer v. Tyson Foods, Inc., and Tyson Fresh Meats, Inc., M.D. Tennessee, February 6, 2009); Emporia, Kansas (Abdiaziz, et al. v. Tyson Foods, Inc., Tyson Fresh Meats, Inc., D. Kansas, September 30, 2011); and 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). 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. Oral argument is scheduled for November 18, 2013.
•
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.
•
A bench trial was held in the Acosta case, which involves our Madison, Nebraska pork plant, in January 2013. In May 2013 the trial court awarded the plaintiffs $5,733,943 for unpaid overtime wages. Subsequently, the court ordered the class of plaintiffs expanded, and the plaintiffs submitted an updated calculation of $6,258,492 for unpaid overtime wages as reflected by payroll data through the date of its order expanding the class. 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. On October 2, 2013, the trial court denied the parties’ post-trial motions and entered judgment awarding unpaid overtime wages, liquidated damages, and penalties totaling $4,960,787. We filed a notice of appeal on November 12, 2013.
•
The trial court in the Edwards case, which involves the Perry and Waterloo, Iowa facilities, decertified the state law class and granted other pre-trial motions that resulted in judgment in our favor with respect to the plaintiffs’ claims.
•
The parties in the Carter case, which involves our Logansport, Indiana pork plant, agreed to settle all claims for $950,000. The parties filed a joint motion for approval of the settlement, but the plaintiffs subsequently filed a motion to certify a class of plaintiffs while the joint motion for approval of the settlement was pending. On October 30, 2013 we filed a motion with the court to enforce the settlement.
•
The trial court in the Abadeer case, which involves the Goodlettsville, Tennessee plant, granted the plaintiffs’ motion for summary judgment in part, finding that certain pre- and post-shift activities were compensable and our non-payment for those activities was willful and not in good faith. The trial for the remaining issues, including damages, is scheduled to begin April 15, 2014.
We have pending one wage and hour action involving our Tyson Prepared Foods plant located in Jefferson, Wisconsin (Weissman, et al. v. Tyson Prepared Foods, Inc., Jefferson County (Wisconsin) Circuit Court, October 20, 2010). The plaintiffs allege that employees should be paid for the time it takes to engage in pre- and post-shift activities such as changing into and out of protective and sanitary clothing and the associated time it takes to walk to and from their workstations post-donning and pre-doffing of protective and sanitary clothing. Six named plaintiffs seek to act as state law class representatives on behalf of all current and former employees who were allegedly not paid for time worked and seek back wages, liquidated damages, pre- and post-judgment interest, and attorneys’ fees and costs. On May 16, 2011, the plaintiffs filed a motion to certify a state law class of all hourly employees who have worked at the Jefferson plant from October 20, 2008, to the present. We 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. We have petitioned the Wisconsin Supreme Court for further review.
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.
Quarterly Financial Data (Unaudited)
Quarterly Financial Data (Unaudited)
QUARTERLY FINANCIAL DATA (UNAUDITED)
 
 
 
 
in millions, except per share data
 
 
 
First
Quarter

 
Second
Quarter

 
Third
Quarter

 
Fourth
Quarter

2013
 
 
 
 
 
 
 
 
Sales
 
$
8,366

 
$
8,383

 
$
8,731

 
$
8,894

Gross profit
 
539

 
468

 
682

 
669

Operating income
 
304

 
236

 
419

 
416

Net income
 
168

 
106

 
245

 
259

Amounts attributable to Tyson:
 
 
 
 
 
 
 
 
   Net income from continuing operations
 
177

 
157

 
253

 
261

   Net loss from discontinued operation
 
(4
)
 
(62
)
 
(4
)
 
—

Net income attributable to Tyson
 
173

 
95

 
249

 
261

 
 
 
 
 
 
 
 
 
Net income per share from continuing operations attributable to Tyson:
 
 
 
 
 
 
 
Class A Basic
 
$
0.51

 
$
0.45

 
$
0.73

 
$
0.77

Class B Basic
 
$
0.46

 
$
0.40

 
$
0.66

 
$
0.70

Diluted
 
$
0.49

 
$
0.43

 
$
0.69

 
$
0.70

Net loss per share from discontinued operation attributable to Tyson:
 
 
 
 
 
 
 
Class A Basic
 
$
(0.01
)
 
$
(0.18
)
 
$
(0.01
)
 
$
—

Class B Basic
 
$
(0.01
)
 
$
(0.15
)
 
$
(0.02
)
 
$
—

Diluted
 
$
(0.01
)
 
$
(0.17
)
 
$
(0.01
)
 
$
—

Net income per share attributable to Tyson:
 
 
 
 
 
 
 
 
Class A Basic
 
$
0.50

 
$
0.27

 
$
0.72

 
$
0.77

Class B Basic
 
$
0.45

 
$
0.25

 
$
0.64

 
$
0.70

Diluted
 
$
0.48

 
$
0.26

 
$
0.68

 
$
0.70

2012
 
 
 
 
 
 
 
 
Sales
 
$
8,258

 
$
8,221

 
$
8,261

 
$
8,315

Gross profit
 
497

 
537

 
566

 
590

Operating income
 
284

 
306

 
342

 
354

Net income
 
156

 
166

 
73

 
181

Amounts attributable to Tyson:
 
 
 
 
 
 
 
 
   Net income from continuing operations
 
162

 
170

 
82

 
207

   Net loss from discontinued operation
 
(6
)
 
(4
)
 
(6
)
 
(22
)
Net income attributable to Tyson
 
156

 
166

 
76

 
185

 
 
 
 
 
 
 
 
 
Net income per share from continuing operations attributable to Tyson:
 
 
 
 
 
 
 
Class A Basic
 
$
0.45

 
$
0.48

 
$
0.23

 
$
0.59

Class B Basic
 
$
0.41

 
$
0.43

 
$
0.20

 
$
0.53

Diluted
 
$
0.43

 
$
0.46

 
$
0.22

 
$
0.57

Net loss per share from discontinued operation attributable to Tyson:
 
 
 
 
 
 
 
Class A Basic
 
$
(0.02
)
 
$
(0.01
)
 
$
(0.02
)
 
$
(0.06
)
Class B Basic
 
$
(0.02
)
 
$
(0.01
)
 
$
(0.01
)
 
$
(0.05
)
Diluted
 
$
(0.01
)
 
$
(0.02
)
 
$
(0.01
)
 
$
(0.06
)
Net income per share attributable to Tyson:
 
 
 
 
 
 
 
 
Class A Basic
 
$
0.43

 
$
0.47

 
$
0.21

 
$
0.53

Class B Basic
 
$
0.39

 
$
0.42

 
$
0.19

 
$
0.48

Diluted
 
$
0.42

 
$
0.44

 
$
0.21

 
$
0.51


Second quarter fiscal 2013 net income included a $19 million currency translation adjustment gain recognized in conjunction with the receipt of proceeds constituting the final resolution of our investment in Canada and included a $56 million non-cash charge, reported as a discontinued operation, related to the impairment of Weifang.
Third quarter fiscal 2012 net income included a $167 million pretax charge related to the early extinguishment of debt. Fourth quarter fiscal 2012 net income included a $15 million non-cash charge related to the impairment of Weifang.
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-Guarantor 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.
Condensed Consolidating Statement of Income and Comprehensive Income for the year ended September 28, 2013
 
in millions
 
 
TFI
Parent

 
TFM
Parent

 
Non-
Guarantors

 
Eliminations

 
Total

Sales
$
431

 
$
19,243

 
$
16,120

 
$
(1,420
)
 
$
34,374

Cost of Sales
40

 
18,464

 
14,932

 
(1,420
)
 
32,016

Gross Profit
391

 
779

 
1,188

 
—

 
2,358

Selling, General and Administrative
68

 
201

 
714

 
—

 
983

Operating Income
323

 
578

 
474

 
—

 
1,375

Other (Income) Expense:

 

 

 

 

Interest expense, net
36

 
62

 
40

 
—

 
138

Other, net
4

 
(1
)
 
(23
)
 
—

 
(20
)
Equity in net earnings of subsidiaries
(582
)
 
(40
)
 
—

 
622

 
—

Total Other (Income) Expense
(542
)
 
21

 
17

 
622

 
118

Income from Continuing Operations before Income Taxes
865

 
557

 
457

 
(622
)
 
1,257

Income Tax Expense
87

 
172

 
150

 
—

 
409

Income from Continuing Operations
778

 
385

 
307

 
(622
)
 
848

Loss from Discontinued Operation, Net of Tax
—

 
—

 
(70
)
 
—

 
(70
)
Net Income
778

 
385

 
237

 
(622
)
 
778

Less: Net Loss Attributable to Noncontrolling Interests
—

 
—

 
—

 
—

 
—

Net Income Attributable to Tyson
$
778

 
$
385

 
$
237

 
$
(622
)
 
$
778

 


 


 


 


 


Comprehensive Income (Loss)
$
733

 
$
380

 
$
212

 
$
(592
)
 
$
733

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

 
—

 
—

 
—

 
—

Comprehensive Income (Loss) Attributable to Tyson
$
733

 
$
380

 
$
212

 
$
(592
)
 
$
733

Condensed Consolidating Statement of Income and Comprehensive Income for the year ended September 29, 2012
 
in millions
 
 
TFI
Parent

 
TFM
Parent

 
Non-
Guarantors

 
Eliminations

 
Total

Sales
$
352

 
$
18,832

 
$
15,152

 
$
(1,281
)
 
$
33,055

Cost of Sales
(4
)
 
18,088

 
14,061

 
(1,280
)
 
30,865

Gross Profit
356

 
744

 
1,091

 
(1
)
 
2,190

Selling, General and Administrative
59

 
205

 
641

 
(1
)
 
904

Operating Income
297

 
539

 
450

 
—

 
1,286

Other (Income) Expense:

 

 

 

 

Interest expense, net
49

 
143

 
152

 
—

 
344

Other, net
1

 
—

 
(24
)
 
—

 
(23
)
Equity in net earnings of subsidiaries
(427
)
 
(43
)
 
—

 
470

 
—

Total Other (Income) Expense
(377
)
 
100

 
128

 
470

 
321

Income from Continuing Operations before Income Taxes
674

 
439

 
322

 
(470
)
 
965

Income Tax Expense
91

 
130

 
130

 
—

 
351

Income from Continuing Operations
583

 
309

 
192

 
(470
)
 
614

Loss from Discontinued Operation, Net of Tax
—

 
—

 
(38
)
 
—

 
(38
)
Net Income
583

 
309

 
154

 
(470
)
 
576

Less: Net Loss Attributable to Noncontrolling Interests
—

 
—

 
(7
)
 
—

 
(7
)
Net Income Attributable to Tyson
$
583

 
$
309

 
$
161

 
$
(470
)
 
$
583

 


 


 


 


 


Comprehensive Income (Loss)
$
599

 
$
324

 
$
166

 
$
(497
)
 
$
592

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

 
—

 
(7
)
 
—

 
(7
)
Comprehensive Income (Loss) Attributable to Tyson
$
599

 
$
324

 
$
173

 
$
(497
)
 
$
599

Condensed Consolidating Statement of Income and Comprehensive Income for the year ended October 1, 2011
 
in millions
 
 
TFI
Parent

 
TFM
Parent

 
Non-
Guarantors

 
Eliminations

 
Total

Sales
$
157

 
$
18,636

 
$
14,466

 
$
(1,227
)
 
$
32,032

Cost of Sales
29

 
17,461

 
13,574

 
(1,227
)
 
29,837

Gross Profit
128

 
1,175

 
892

 
—

 
2,195

Selling, General and Administrative
52

 
215

 
639

 
—

 
906

Operating Income
76

 
960

 
253

 
—

 
1,289

Other (Income) Expense:
 
 
 
 
 
 
 
 
 
Interest expense, net
(26
)
 
148

 
109

 
—

 
231

Other, net
(9
)
 
—

 
(11
)
 
—

 
(20
)
Equity in net earnings of subsidiaries
(673
)
 
(115
)
 
—

 
788

 
—

Total Other (Income) Expense
(708
)
 
33

 
98

 
788

 
211

Income from Continuing Operations before Income Taxes
784

 
927

 
155

 
(788
)
 
1,078

Income Tax Expense
34

 
272

 
34

 
—

 
340

Income from Continuing Operations
750

 
655

 
121

 
(788
)
 
738

Loss from Discontinued Operation, Net of Tax
—

 
—

 
(5
)
 
—

 
(5
)
Net Income
750

 
655

 
116

 
(788
)
 
733

Less: Net Loss Attributable to Noncontrolling Interests
—

 
—

 
(17
)
 
—

 
(17
)
Net Income Attributable to Tyson
$
750

 
$
655

 
$
133

 
$
(788
)
 
$
750

 


 


 


 


 


Comprehensive Income (Loss)
$
671

 
$
606

 
$
77

 
$
(700
)
 
$
654

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

 
—

 
(17
)
 
—

 
(17
)
Comprehensive Income (Loss) Attributable to Tyson
$
671

 
$
606

 
$
94

 
$
(700
)
 
$
671


Condensed Consolidating Balance Sheet as of September 28, 2013
 
in millions
 
 
TFI
Parent

 
TFM
Parent

 
Non-
Guarantors

 
Eliminations

 
Total

Assets
 
 
 
 
 
 
 
 
 
Current Assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
—

 
$
21

 
$
1,124

 
$
—

 
$
1,145

Accounts receivable, net
—

 
571

 
926

 
—

 
1,497

Inventories
—

 
1,039

 
1,778

 
—

 
2,817

Other current assets
351

 
88

 
117

 
(411
)
 
145

Total Current Assets
351

 
1,719

 
3,945

 
(411
)
 
5,604

Net Property, Plant and Equipment
32

 
891

 
3,130

 
—

 
4,053

Goodwill
—

 
881

 
1,021

 
—

 
1,902

Intangible Assets
—

 
21

 
117

 
—

 
138

Other Assets
895

 
162

 
244

 
(821
)
 
480

Investment in Subsidiaries
11,975

 
2,035

 
—

 
(14,010
)
 
—

Total Assets
$
13,253

 
$
5,709

 
$
8,457

 
$
(15,242
)
 
$
12,177

Liabilities and Shareholders’ Equity
 
 
 
 
 
 
 
 
 
Current Liabilities:
 
 
 
 
 
 
 
 
 
Current debt
$
457

 
$
132

 
$
251

 
$
(327
)
 
$
513

Accounts payable
27

 
575

 
757

 
—

 
1,359

Other current liabilities
4,625

 
200

 
901

 
(4,588
)
 
1,138

Total Current Liabilities
5,109

 
907

 
1,909

 
(4,915
)
 
3,010

Long-Term Debt
1,770

 
679

 
241

 
(795
)
 
1,895

Deferred Income Taxes
24

 
93

 
362

 
—

 
479

Other Liabilities
149

 
155

 
282

 
(26
)
 
560

 
 
 
 
 
 
 
 
 
 
Total Tyson Shareholders’ Equity
6,201

 
3,875

 
5,631

 
(9,506
)
 
6,201

Noncontrolling Interests
—

 
—

 
32

 
—

 
32

Total Shareholders’ Equity
6,201

 
3,875

 
5,663

 
(9,506
)
 
6,233

Total Liabilities and Shareholders’ Equity
$
13,253

 
$
5,709

 
$
8,457

 
$
(15,242
)
 
$
12,177

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 Interests
—

 
—

 
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 year ended September 28, 2013
 
in millions
 
 
TFI
Parent

 
TFM
Parent

 
Non-
Guarantors

 
Eliminations

 
Total

Cash Provided by (Used for) Operating Activities
$
294

 
$
337

 
$
696

 
$
(13
)
 
$
1,314

Cash Flows from Investing Activities:
 
 
 
 
 
 
 
 
 
Additions to property, plant and equipment
(4
)
 
(113
)
 
(441
)
 
—

 
(558
)
(Purchases of)/Proceeds from marketable securities, net
—

 
(13
)
 
(5
)
 
—

 
(18
)
Proceeds from notes receivable
—

 
—

 
—

 
—

 
—

Acquisitions, net of cash acquired
—

 
—

 
(106
)
 
—

 
(106
)
Other, net
—

 
3

 
36

 
—

 
39

Cash Provided by (Used for) Investing Activities
(4
)
 
(123
)
 
(516
)
 
—

 
(643
)
Cash Flows from Financing Activities:
 
 
 
 
 
 
 
 
 
Net change in debt
5

 
—

 
(28
)
 
—

 
(23
)
Purchase of redeemable noncontrolling interest
—

 
—

 
—

 
—

 
—

Purchases of Tyson Class A common stock
(614
)
 
—

 
—

 
—

 
(614
)
Dividends
(104
)
 
—

 
(13
)
 
13

 
(104
)
Stock options exercised
123

 
—

 
—

 
—

 
123

Other, net
18

 
—

 
—

 
—

 
18

Net change in intercompany balances
281

 
(202
)
 
(79
)
 
—

 
—

Cash Provided by (Used for) Financing Activities
(291
)
 
(202
)
 
(120
)
 
13

 
(600
)
Effect of Exchange Rate Change on Cash
—

 
—

 
3

 
—

 
3

Increase (Decrease) in Cash and Cash Equivalents
(1
)
 
12

 
63

 
—

 
74

Cash and Cash Equivalents at Beginning of Year
1

 
9

 
1,061

 
—

 
1,071

Cash and Cash Equivalents at End of Year
$
—

 
$
21

 
$
1,124

 
$
—

 
$
1,145

Condensed Consolidating Statement of Cash Flows for the year ended September 29, 2012
 
in millions
 
 
TFI
Parent

 
TFM
Parent

 
Non-
Guarantors

 
Eliminations

 
Total

Cash Provided by (Used for) Operating Activities
$
312

 
$
438

 
$
447

 
$
(10
)
 
$
1,187

Cash Flows from Investing Activities:
 
 
 
 
 
 
 
 
 
Additions to property, plant and equipment
(1
)
 
(104
)
 
(585
)
 
—

 
(690
)
(Purchases of)/Proceeds from marketable securities, net
—

 
(7
)
 
(4
)
 
—

 
(11
)
Proceeds from notes receivable
—

 
—

 
—

 
—

 
—

Acquisitions, net of cash acquired
—

 
—

 
—

 
—

 
—

Other, net
1

 
5

 
35

 
—

 
41

Cash Provided by (Used for) Investing Activities
—

 
(106
)
 
(554
)
 
—

 
(660
)
Cash Flows from Financing Activities:
 
 
 
 
 
 
 
 
 
Net change in debt
107

 
—

 
16

 
—

 
123

Purchase of redeemable noncontrolling interest
—

 
—

 
—

 
—

 
—

Purchases of Tyson Class A common stock
(264
)
 
—

 
—

 
—

 
(264
)
Dividends
(57
)
 
—

 
(10
)
 
10

 
(57
)
Stock options exercised
34

 
—

 
—

 
—

 
34

Other, net
(8
)
 
—

 
1

 
—

 
(7
)
Net change in intercompany balances
(124
)
 
(324
)
 
448

 
—

 
—

Cash Provided by (Used for) Financing Activities
(312
)
 
(324
)
 
455

 
10

 
(171
)
Effect of Exchange Rate Change on Cash
—

 
—

 
(1
)
 
—

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

 
8

 
347

 
—

 
355

Cash and Cash Equivalents at Beginning of Year
1

 
1

 
714

 
—

 
716

Cash and Cash Equivalents at End of Year
$
1

 
$
9

 
$
1,061

 
$
—

 
$
1,071

Condensed Consolidating Statement of Cash Flows for the year ended October 1, 2011
 
in millions
 
 
TFI
Parent

 
TFM
Parent

 
Non-
Guarantors

 
Eliminations

 
Total

Cash Provided by (Used for) Operating Activities
$
31

 
$
564

 
$
471

 
$
(20
)
 
$
1,046

Cash Flows from Investing Activities:
 
 
 
 
 
 
 
 
 
Additions to property, plant and equipment
(1
)
 
(107
)
 
(535
)
 
—

 
(643
)
(Purchases of)/Proceeds from marketable securities, net
—

 
(57
)
 
(23
)
 
—

 
(80
)
Proceeds from notes receivable
—

 
—

 
51

 
—

 
51

Acquisitions, net of cash acquired
—

 
—

 
—

 
—

 
—

Other, net
23

 
—

 
5

 
—

 
28

Cash Provided by (Used for) Investing Activities
22

 
(164
)
 
(502
)
 
—

 
(644
)
Cash Flows from Financing Activities:
 
 
 
 
 
 
 
 
 
Net change in debt
(391
)
 
(6
)
 
12

 
—

 
(385
)
Purchase of redeemable noncontrolling interest
—

 
—

 
(66
)
 
—

 
(66
)
Purchases of Tyson Class A common stock
(207
)
 
—

 
—

 
—

 
(207
)
Dividends
(59
)
 
—

 
(20
)
 
20

 
(59
)
Stock options exercised
51

 
—

 
—

 
—

 
51

Other, net
(2
)
 
—

 
10

 
—

 
8

Net change in intercompany balances
554

 
(395
)
 
(159
)
 
—

 
—

Cash Provided by (Used for) Financing Activities
(54
)
 
(401
)
 
(223
)
 
20

 
(658
)
Effect of Exchange Rate Change on Cash
—

 
—

 
(6
)
 
—

 
(6
)
Increase (Decrease) in Cash and Cash Equivalents
(1
)
 
(1
)
 
(260
)
 
—

 
(262
)
Cash and Cash Equivalents at Beginning of Year
2

 
2

 
974

 
—

 
978

Cash and Cash Equivalents at End of Year
$
1

 
$
1

 
$
714

 
$
—

 
$
716

Business And Summary Of Significant Accounting Policies (Policy)
Description Of Business 
Description of Business: Tyson Foods, Inc. (collectively, “Company,” “we,” “us” or “our”), founded in 1935 with world headquarters in Springdale, Arkansas, is one of the world’s largest meat protein companies and the second-largest food production company in the Fortune 500. We produce a wide variety of brand name protein-based and prepared food products marketed in the United States and approximately 130 countries around the world.
Consolidation 
Consolidation: The consolidated 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.
Fiscal Year 
Fiscal Year: We utilize a 52- or 53-week accounting period ending on the Saturday closest to September 30. The Company’s accounting cycle resulted in a 52-week year for fiscal 2013, 2012 and 2011.
Cash And Cash Equivalents 
Cash and Cash Equivalents: Cash equivalents consist of investments in short-term, highly liquid securities having original maturities of three months or less, which are made as part of our cash management activity. The carrying values of these assets approximate their fair values. We primarily utilize a cash management system with a series of separate accounts consisting of lockbox accounts for receiving cash, concentration accounts where funds are moved to, and several zero-balance disbursement accounts for funding payroll, accounts payable, livestock procurement, grower payments, etc. As a result of our cash management system, checks issued, but not presented to the banks for payment, may result in negative book cash balances. These negative book cash balances are included in accounts payable and other current liabilities. At September 28, 2013, and September 29, 2012, checks outstanding in excess of related book cash balances totaled approximately $246 million and $265 million, respectively.
Accounts Receivable 
Accounts Receivable: We record accounts receivable at net realizable value. This value includes an appropriate allowance for estimated uncollectible accounts to reflect any loss anticipated on the accounts receivable balances and charged to the provision for doubtful accounts. We calculate this allowance based on our history of write-offs, level of past due accounts and relationships with and economic status of our customers. At September 28, 2013, and September 29, 2012, our allowance for uncollectible accounts was $46 million and $33 million, respectively. We generally do not have collateral for our receivables, but we do periodically evaluate the credit worthiness of our customers.
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.
Property, Plant And Equipment 
Property, Plant and Equipment: Property, plant and equipment are stated at cost and generally depreciated on a straight-line method over the estimated lives for buildings and leasehold improvements of 10 to 33 years, machinery and equipment of three to 12 years and land improvements and other of three to 20 years. Major repairs and maintenance costs that significantly extend the useful life of the related assets are capitalized. Normal repairs and maintenance costs are charged to operations.
We review the carrying value of long-lived assets at each balance sheet date if indication of impairment exists. Recoverability is assessed using undiscounted cash flows based on historical results and current projections of earnings before interest and taxes. We measure impairment as the excess of carrying cost over the fair value of an asset. The fair value of an asset is measured using discounted cash flows including market participant assumptions of future operating results and discount rates.
Goodwill And Other Intangible Assets 
Goodwill and Other Intangible Assets: Goodwill and indefinite life intangible assets are initially recorded at fair value and not amortized, but are reviewed for impairment at least annually or more frequently if impairment indicators arise. Our goodwill is allocated by reporting unit and is evaluated for impairment by first performing a qualitative assessment to determine whether a quantitative goodwill test is necessary. If it is determined, based on qualitative factors, the fair value of the reporting unit may be more likely than not less than carrying amount, or if significant changes to macro-economic factors related to the reporting unit have occurred that could materially impact fair value, a quantitative goodwill impairment test would be required. Additionally, we can elect to forgo the qualitative assessment and perform the quantitative test.
The first step of the quantitative test is to identify if a potential impairment exists by comparing the fair value of a reporting unit with its carrying amount, including goodwill. If the fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is not considered to have a potential impairment and the second step of the quantitative impairment test is not necessary. However, if the carrying amount of a reporting unit exceeds its fair value, the second step is performed to determine if goodwill is impaired and to measure the amount of impairment loss to recognize, if any. The second step compares the implied fair value of goodwill with the carrying amount of goodwill. If the implied fair value of goodwill exceeds the carrying amount, then goodwill is not considered impaired. However, if the carrying amount of goodwill exceeds the implied fair value, an impairment loss is recognized in an amount equal to that excess. The implied fair value of goodwill is determined in the same manner as the amount of goodwill recognized in a business combination (i.e., the fair value of the reporting unit is allocated to all the assets and liabilities, including any unrecognized intangible assets, as if the reporting unit had been acquired in a business combination and the fair value of the reporting unit was determined as the exit price a market participant would pay for the same business). We have elected to make the first day of the fourth quarter the annual impairment assessment date for goodwill and other indefinite life intangible assets.
We estimate the fair value of our reporting units using a discounted cash flow analysis, which uses significant unobservable inputs, or Level 3 inputs, as defined by the fair value hierarchy. This analysis requires us to make various judgmental estimates and assumptions about sales, operating margins, growth rates and discount factors and is believed to reflect market participant views which would exist in an exit transaction. Generally, we utilize normalized operating margin assumptions based on future expectations and operating margins historically realized in the reporting units' industries. Some of the inherent estimates and assumptions used in determining fair value of the reporting units are outside the control of management, including interest rates, cost of capital, tax rates and credit ratings. While we believe we have made reasonable estimates and assumptions to calculate the fair value of the reporting units, it is possible a material change could occur. If our actual results are not consistent with our estimates and assumptions used to calculate fair value, we may be required to perform the second step of the quantitative test in future years, which could result in material impairments of our goodwill.
During fiscal 2013, 2012 and 2011, all of our material reporting units that underwent the quantitative test passed the first step of the goodwill impairment analysis and therefore, the second step was not necessary.
For our other indefinite life intangible assets, a qualitative assessment can also be performed to determine whether the existence of events and circumstances indicates it is more likely than not an intangible asset is impaired. Similar to goodwill, we can also elect to forgo the qualitative test for indefinite life intangible assets and perform the quantitative test. Upon performing the quantitative test, if the carrying value of the intangible asset exceeds its fair value, an impairment loss is recognized in an amount equal to that excess. The fair value of trademarks is determined using a royalty rate method based on expected revenues by trademark.
Investments 
Investments: We have investments in joint ventures and other entities. We use the cost method of accounting when our voting interests are less than 20 percent. We use the equity method of accounting when our voting interests are in excess of 20 percent and we do not have a controlling interest or a variable interest in which we are the primary beneficiary. Investments in joint ventures and other entities are reported in the Consolidated Balance Sheets in Other Assets.
We also have investments in marketable debt securities. We have determined all of our marketable debt securities are available-for-sale investments. These investments are reported at fair value based on quoted market prices as of the balance sheet date, with unrealized gains and losses, net of tax, recorded in other comprehensive income. The amortized cost of debt securities is adjusted for amortization of premiums and accretion of discounts to maturity. Such amortization is recorded in interest income. The cost of securities sold is based on the specific identification method. Realized gains and losses on the sale of debt securities and declines in value judged to be other than temporary are recorded on a net basis in other income. Interest and dividends on securities classified as available-for-sale are recorded in interest income.
Accrued Self Insurance 
Accrued Self-Insurance: We use a combination of insurance and self-insurance mechanisms in an effort to mitigate the potential liabilities for health and welfare, workers’ compensation, auto liability and general liability risks. Liabilities associated with our risks retained are estimated, in part, by considering claims experience, demographic factors, severity factors and other actuarial assumptions.
Financial Instruments 
Financial Instruments: We purchase certain commodities, such as grains and livestock in the course of normal operations. As part of our commodity risk management activities, we use derivative financial instruments, primarily futures and options, to reduce our exposure to various market risks related to these purchases, as well as to changes in foreign currency exchange rates. Contract terms of a financial instrument qualifying as a hedge instrument closely mirror those of the hedged item, providing a high degree of risk reduction and correlation. Contracts designated and highly effective at meeting risk reduction and correlation criteria are recorded using hedge accounting. If a derivative instrument is accounted for as a hedge, changes in the fair value of the instrument will be offset either against the change in fair value of the hedged assets, liabilities or firm commitments through earnings or recognized in other comprehensive income (loss) until the hedged item is recognized in earnings. The ineffective portion of an instrument’s change in fair value is immediately recognized in earnings as a component of cost of sales. Instruments we hold as part of our risk management activities that do not meet the criteria for hedge accounting are marked to fair value with unrealized gains or losses reported currently in earnings. Changes in market value of derivatives used in our risk management activities relating to forward sales contracts are recorded in sales, while changes surrounding inventories on hand or anticipated purchases of inventories or supplies are recorded in cost of sales. We generally do not hedge anticipated transactions beyond 18 months .
Revenue Recognition 
Revenue Recognition: We recognize revenue when title and risk of loss are transferred to customers, which is generally on delivery based on terms of sale. Revenue is recognized as the net amount estimated to be received after deducting estimated amounts for discounts, trade allowances and product terms.
Litigation Reserves 
Litigation Reserves: There are a variety of legal proceedings pending or threatened against us. Accruals are recorded when it is probable a liability has been incurred and the amount of the liability can be reasonably estimated based on current law, progress of each case, opinions and views of legal counsel and other advisers, our experience in similar matters and intended response to the litigation. These amounts, which are not discounted and are exclusive of claims against third parties, are adjusted periodically as assessment efforts progress or additional information becomes available. We expense amounts for administering or litigating claims as incurred. Accruals for legal proceedings are included in Other current liabilities in the Consolidated Balance Sheets.
Freight Expense 
Freight Expense: Freight expense associated with products shipped to customers is recognized in cost of sales.
Advertising And Promotion Expenses 
Advertising and Promotion Expenses: Advertising and promotion expenses are charged to operations in the period incurred. Customer incentive and trade promotion activities are recorded as a reduction to sales based on amounts estimated as being due to customers, based primarily on historical utilization and redemption rates, while other advertising and promotional activities are recorded as selling, general and administrative expenses. Advertising and promotion expenses for fiscal 2013, 2012 and 2011 were $555 million, $496 million and $552 million, respectively.
Research And Development 
Research and Development: Research and development costs are expensed as incurred. Research and development costs totaled $50 million, $43 million and $42 million in fiscal 2013, 2012 and 2011, respectively.
Use Of Estimates 
Use of Estimates: The consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States, which require us to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.
Recently Issued Accounting Pronouncements 
Recently Issued Accounting Pronouncements: In December 2011 and February 2013, the Financial Accounting Standards Board (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 financial statements.
Business And Summary Of Significant Accounting Policies (Tables)
Schedule of Inventory, Current 
The following table reflects the major components of inventory at September 28, 2013, and September 29, 2012:
 
 
 
in millions

 
2013

 
2012

Processed products:
 
 
 
Weighted-average method – chicken, prepared foods and international
$
799

 
$
754

First-in, first-out method – beef and pork
624

 
611

Livestock – first-in, first-out method
1,002

 
952

Supplies and other – weighted-average method
392

 
492

Total inventory
$
2,817

 
$
2,809

Schedule of Class A Stock Repurchases 
A summary of cumulative share repurchases of our Class A Stock is as follows:
 
 
 
 
 
 
 
 
 
 
in millions
 
 
 
September 28, 2013
 
September 29, 2012
 
October 1, 2011
 
 
Shares
 
Dollars
 
Shares
 
Dollars
 
Shares
 
Dollars
Shares repurchased:
 
 
 
 
 
 
 
 
 
 
 
 
Under share repurchase program
 
21.1

 
$
550

 
12.5

 
$
230

 
9.7

 
$
170

To fund certain obligations under equity compensation plans
 
2.8

 
64

 
1.8

 
34

 
2.0

 
37

Total share repurchases
 
23.9

 
$
614

 
14.3

 
$
264

 
11.7

 
$
207

Discontinued Operation (Tables)
Summary of Discontinued Operation's Results
The following is a summary of the discontinued operation's results:
 
 
 
 
 
 
in millions

 
 
2013

 
2012

 
2011

Sales
 
$
108

 
$
223

 
$
234

 
 
 
 
 
 
 
Pretax loss
 
(68
)
 
(38
)
 
(4
)
Income tax expense
 
2

 
—

 
1

Loss from discontinued operation, net of tax
 
$
(70
)
 
$
(38
)
 
$
(5
)
Property, Plant And Equipment (Tables)
Schedule Of Property, Plant And Equipment And Accumulated Depreciation
The following table reflects major categories of property, plant and equipment and accumulated depreciation at September 28, 2013, and September 29, 2012:
 
in millions
 
 
2013

 
2012

Land
$
100

 
$
101

Building and leasehold improvements
2,945

 
2,868

Machinery and equipment
5,504

 
5,208

Land improvements and other
417

 
408

Buildings and equipment under construction
236

 
298

 
9,202

 
8,883

Less accumulated depreciation
5,149

 
4,861

Net property, plant and equipment
$
4,053

 
$
4,022

Goodwill And Other Intangible Assets (Tables)
Schedule Of Goodwill Activity 
The following table reflects goodwill activity for fiscal 2013 and 2012:
in millions
 
 
Chicken

 
Beef

 
Pork

 
Prepared
Foods

 
International

 
Consolidated

Balance at October 1, 2011
 
 
 
 
 
 
 
 
 
 
 
Goodwill
$
911

 
$
1,123

 
$
317

 
$
63

 
$
67

 
$
2,481

Accumulated impairment losses
—

 
(560
)
 
—

 
—

 
(29
)
 
(589
)
 
911

 
563

 
317

 
63

 
38

 
1,892

Fiscal 2012 Activity:
 
 
 
 
 
 
 
 
 
 
 
Impairment losses
—

 
—

 
—

 
—

 
—

 
—

Currency translation and other
(2
)
 
—

 
—

 
—

 
1

 
(1
)
Balance at September 29, 2012
 
 
 
 
 
 
 
 
 
 
 
Goodwill
909

 
1,123

 
317

 
63

 
68

 
2,480

Accumulated impairment losses
—

 
(560
)
 
—

 
—

 
(29
)
 
(589
)
 
$
909

 
$
563

 
$
317

 
$
63

 
$
39

 
$
1,891

 
 
 
 
 
 
 
 
 
 
 
 
Fiscal 2013 Activity:
 
 
 
 
 
 
 
 
 
 
 
Acquisition
$
—

 
$
—

 
$
—

 
$
12

 
$
—

 
$
12

Impairment losses
—

 
—

 
—

 
—

 
—

 
—

Currency translation and other
(1
)
 
—

 
—

 
—

 
—

 
(1
)
Balance at September 28, 2013
 
 
 
 
 
 
 
 
 
 
 
Goodwill
908

 
1,123

 
317

 
75

 
68

 
2,491

Accumulated impairment losses
—

 
(560
)
 
—

 
—

 
(29
)
 
(589
)
 
$
908

 
$
563

 
$
317

 
$
75

 
$
39

 
$
1,902

Schedule Of Other Intangible Assets By Type 
The following table reflects other intangible assets by type at September 28, 2013, and September 29, 2012:
in millions
 
 
2013

 
2012

Gross carrying value:
 
 
 
Trademarks
$
85

 
$
56

Patents, intellectual property and other
152

 
142

Land use rights
8

 
21

Less accumulated amortization
107

 
90

Total intangible assets
$
138

 
$
129

Other Current Liabilities (Tables)
Schedule Of Other Current Liabilities
Other current liabilities at September 28, 2013, and September 29, 2012, include:
 
in millions
 
 
2013

 
2012

Accrued salaries, wages and benefits
$
419

 
$
382

Self-insurance reserves
267

 
274

Other
452

 
287

Total other current liabilities
$
1,138

 
$
943

Debt (Tables)
Schedule Of Major Components Of Debt
The following table reflects major components of debt as of September 28, 2013, and September 29, 2012:
 
 
 
in millions

 
2013

 
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
(6
)
 
(28
)
GO Zone tax-exempt bonds due October 2033 (0.07% at 9/28/2013)
100

 
100

Other
80

 
126

Total debt
2,408

 
2,432

Less current debt
513

 
515

Total long-term debt
$
1,895

 
$
1,917

Income Taxes (Tables)
Schedule Of Provision For Income Taxes From Continuing Operations 
Detail of the provision for income taxes from continuing operations consists of the following:
 
 
 
 
 
in millions  

 
2013

 
2012

 
2011

Federal
$
341

 
$
310

 
$
320

State
38

 
22

 
21

Foreign
30

 
19

 
(1
)
 
$
409

 
$
351

 
$
340

 
 
 
 
 
 
Current
$
421

 
$
211

 
$
254

Deferred
(12
)
 
140

 
86

 
$
409

 
$
351

 
$
340

Schedule Of Reasons For Differences Between Statutory Federal Tax Rate And Effective Income Tax Rate 
The reasons for the difference between the statutory federal income tax rate and our effective income tax rate from continuing operations are as follows:
 
2013

 
2012

 
2011

Federal income tax rate
35.0
 %
 
35.0
 %
 
35.0
 %
State income taxes
2.4

 
1.5

 
1.6

General business credits
(1.3
)
 
(0.7
)
 
(0.9
)
Domestic production deduction
(3.2
)
 
(1.8
)
 
(2.3
)
Foreign rate differences and valuation allowances
0.3

 
1.8

 
—

Other
(0.6
)
 
0.6

 
(1.8
)
 
32.6
 %
 
36.4
 %
 
31.6
 %
Schedule Of Tax Effects Of Major Items Recorded As Deferred Tax Assets And Liabilities 
The tax effects of major items recorded as deferred tax assets and liabilities as of September 28, 2013, and September 29, 2012, are as follows:
 
 
 
 
 
 
 
in millions

 
2013
 
2012
 
Deferred Tax
 
Deferred Tax
 
Assets

 
Liabilities

 
Assets

 
Liabilities

Property, plant and equipment
$
—

 
$
525

 
$
—

 
$
542

Suspended taxes from conversion to accrual method
—

 
71

 
—

 
76

Intangible assets
—

 
29

 
—

 
35

Inventory
8

 
110

 
9

 
105

Accrued expenses
209

 
—

 
193

 
—

Net operating loss and other carryforwards
77

 
—

 
101

 
—

Insurance reserves
22

 
—

 
21

 
—

Other
60

 
98

 
69

 
90

 
$
376

 
$
833

 
$
393

 
$
848

Valuation allowance
$
(77
)
 
 
 
$
(78
)
 
 
Net deferred tax liability
 
 
$
534

 
 
 
$
533

Schedule Of Activity Related To Gross Unrecognized Tax Benefits 
The following table summarizes the activity related to our gross unrecognized tax benefits at September 28, 2013, September 29, 2012, and October 1, 2011:
 
 
 
 
 
in millions

 
2013

 
2012

 
2011

Balance as of the beginning of the year
$
168

 
$
174

 
$
184

Increases related to current year tax positions
3

 
3

 
4

Increases related to prior year tax positions
15

 
5

 
21

Reductions related to prior year tax positions
(6
)
 
(10
)
 
(24
)
Reductions related to settlements
(2
)
 
(1
)
 
(9
)
Reductions related to expirations of statute of limitations
(3
)
 
(3
)
 
(2
)
Balance as of the end of the year
$
175

 
$
168

 
$
174

Earnings Per Share (Tables)
Schedule Of Earnings Per Share, Basic And Diluted
The earnings and weighted average common shares used in the computation of basic and diluted earnings per share are as follows:
 
in millions, except per share data
 
 
2013

 
2012

 
2011

Numerator:
 
 
 
 
 
Income from continuing operations
$
848

 
$
614

 
$
738

Less: Net loss from continuing operations attributable to noncontrolling interests
—

 
(7
)
 
(14
)
Net income from continuing operations attributable to Tyson
848

 
621

 
752

Less dividends declared:
 
 
 
 
 
Class A
87

 
47

 
49

Class B
19

 
10

 
10

Undistributed earnings
$
742

 
$
564

 
$
693

 
 
 
 
 
 
Class A undistributed earnings
$
606

 
$
464

 
$
574

Class B undistributed earnings
136

 
100

 
119

Total undistributed earnings
$
742

 
$
564

 
$
693

 
 
 
 
 
 
Denominator:
 
 
 
 
 
Denominator for basic earnings per share:
 
 
 
 
 
Class A weighted average shares
282

 
293

 
303

Class B weighted average shares, and shares under if-converted method for diluted earnings per share
70

 
70

 
70

Effect of dilutive securities:
 
 
 
 
 
Stock options and restricted stock
5

 
4

 
6

Convertible 2013 Notes
7

 
3

 
1

Warrants
3

 
—

 
—

Denominator for diluted earnings per share – adjusted weighted average shares and assumed conversions
367

 
370

 
380

 
 
 
 
 
 
Net Income Per Share from Continuing Operations Attributable to Tyson:
 
 
 
 
Class A Basic
$
2.46

 
$
1.75

 
$
2.05

Class B Basic
$
2.22

 
$
1.57

 
$
1.84

Diluted
$
2.31

 
$
1.68

 
$
1.98

 
 
 
 
 
 
Net Income Per Share Attributable to Tyson:
 
 
 
 
 
Class A Basic
$
2.26

 
$
1.64

 
$
2.04

Class B Basic
$
2.04

 
$
1.48

 
$
1.84

Diluted
$
2.12

 
$
1.58

 
$
1.97

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 Balance Sheets:
 
in millions
 
 
Fair Value
 
September 28, 2013

 
September 29, 2012

Derivative Assets:
 
 
 
Derivatives designated as hedging instruments:
 
 
 
Commodity contracts
$
4

 
$
32

Foreign exchange contracts
1

 
—

Total derivative assets – designated
5

 
32

 
 
 
 
Derivatives not designated as hedging instruments:
 
 
 
Commodity contracts
25

 
21

Foreign exchange contracts
2

 
1

Total derivative assets – not designated
27

 
22

 
 
 
 
Total derivative assets
$
32

 
$
54

Derivative Liabilities:
 
 
 
Derivatives designated as hedging instruments:
 
 
 
Commodity contracts
$
29

 
$
6

Foreign exchange contracts
—

 
1

Total derivative liabilities – designated
29

 
7

 
 
 
 
Derivatives not designated as hedging instruments:
 
 
 
Commodity contracts
72

 
96

Foreign exchange contracts
1

 
2

Total derivative liabilities – not designated
73

 
98

 
 
 
 
Total derivative liabilities
$
102

 
$
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
 
September 28, 2013

 
September 29, 2012

Commodity:
 
 
 
 
 
 
Corn
 
Bushels
 
5

 
12

Soy Meal
 
Tons
 
96,800

 
164,700

Foreign Currency
 
United States dollar
 
$
60

 
$
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 in the Consolidated Statements of Income:
 
 
 
 
 
 
 
 
 
 
 
in millions
 
 
Gain/(Loss)
Recognized in OCI
on Derivatives
 
 
Consolidated
Statements of Income
Classification
 
Gain/(Loss)
Reclassified from
OCI to Earnings
 
 
2013

 
2012

 
2011

 
 
 
2013

 
2012

 
2011

Cash Flow Hedge – Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
 
 
 
 
 
 
Commodity contracts
$
(29
)
 
$
24

 
$
(5
)
 
Cost of Sales
 
$
(5
)
 
$
(16
)
 
$
25

Foreign exchange contracts
(2
)
 
(8
)
 
9

 
Other Income/Expense
 
(4
)
 
4

 
—

Total
$
(31
)
 
$
16

 
$
4

 
 
 
$
(9
)
 
$
(12
)
 
$
25

Schedule Of Notional Amount Of Derivatives 
We had the following aggregated notional values of outstanding forward contracts entered into to hedge firm commitments which are accounted for as a fair value hedge:
 
 
 
 
 
 
in millions

 
 
Metric
 
September 28, 2013

 
September 29, 2012

Commodity:
 
 
 
 
 
 
Live Cattle
 
Pounds
 
209

 
232

Lean Hogs
 
Pounds
 
384

 
239

Schedule Of Derivative Instruments, Gain (Loss) In Statement Of Financial Performance 
 
 
in millions
 
 
 
Consolidated
Statements of Income
Classification
 
2013

 
2012

 
2011

Gain/(Loss) on forwards
 
Cost of Sales
 
$
21

 
$
47

 
$
(78
)
Gain/(Loss) on purchase contract
 
Cost of Sales
 
(21
)
 
(47
)
 
78

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
 
September 28, 2013

 
September 29, 2012

Commodity:
 
 
 
 
 
 
Corn
 
Bushels
 
69

 
19

Soy Meal
 
Tons
 
204,600

 
1,200

Soy Oil
 
Pounds
 
11

 
17

Live Cattle
 
Pounds
 
60

 
68

Lean Hogs
 
Pounds
 
159

 
108

Foreign Currency
 
United States dollars
 
$
95

 
$
165

Schedule Of Derivative Instruments, Gain (Loss) In Statement Of Financial Performance 
The following table sets forth the pretax impact of the undesignated derivative instruments in the Consolidated Statements of Income:
 
 
 
 
in millions
 
 
 
Consolidated
Statements of Income
Classification
 
Gain/(Loss)
Recognized
in Earnings
 
 
 
 
 
2013

 
2012

 
2011

Derivatives not designated as hedging instruments:
 
 
 
 
 
 
 
 
Commodity contracts
 
Sales
 
$
(10
)
 
$
(10
)
 
$
20

Commodity contracts
 
Cost of Sales
 
(24
)
 
51

 
(2
)
Foreign exchange contracts
 
Other Income/Expense
 
2

 
—

 
(3
)
Total
 
 
 
$
(32
)
 
$
41

 
$
15

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
 
September 28, 2013
Level 1

 
Level 2

 
Level 3

 
Netting (a)

 
Total

Assets:
 
 
 
 
 
 
 
 
 
Commodity Derivatives
$
—

 
$
29

 
$
—

 
$
(21
)
 
$
8

Foreign Exchange Forward Contracts
—

 
3

 
—

 
(1
)
 
2

Available for Sale Securities:
 
 
 
 
 
 
 
 
 
Current
—

 
1

 
—

 
—

 
1

Non-current
4

 
24

 
65

 
—

 
93

Deferred Compensation Assets
23

 
191

 
—

 
—

 
214

Total Assets
$
27

 
$
248

 
$
65

 
$
(22
)
 
$
318

 
 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
 
Commodity Derivatives
$
—

 
$
101

 
$
—

 
$
(101
)
 
$
—

Foreign Exchange Forward Contracts
—

 
1

 
—

 
—

 
1

Total Liabilities
$
—

 
$
102

 
$
—

 
$
(101
)
 
$
1

 
 
 
 
 
 
 
 
 
 
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 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 September 28, 2013, and September 29, 2012, we had posted with various counterparties $79 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

 
September 28, 2013

 
September 29, 2012

Balance at beginning of year
$
86

 
$
83

Total realized and unrealized gains (losses):
 
 
 
Included in earnings
1

 
1

Included in other comprehensive income (loss)
—

 
—

Purchases
19

 
28

Issuances
—

 
—

Settlements
(41
)
 
(26
)
Balance at end of year
$
65

 
$
86

Total gains (losses) for the periods included in earnings attributable to the change in unrealized gains (losses) relating to assets and liabilities still held at end of year
$
—

 
$
—

Schedule Of Available For Sale Securities 
We record the shares and warrants in Other Assets in the Consolidated 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.

 
 
 
 
 
 
 
 
 
in millions
 
 
September 28, 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
$
25

 
$
25

 
$
—

 
$
26

 
$
27

 
$
1

Corporate and Asset-Backed (a)
64

 
65

 
1

 
64

 
66

 
2

Redeemable Preferred Stock
—

 
—

 
—

 
20

 
20

 
—

Equity Securities:
 
 
 
 
 
 
 
 
 
 
 
Common Stock and Warrants
9

 
4

 
(5
)
 
9

 
7

 
(2
)
 
(a)
At September 28, 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
 
 
September 28, 2013
 
September 29, 2012
 
Fair
Value

 
Carrying
Value

 
Fair
Value

 
Carrying
Value

Total Debt
$
2,541

 
$
2,408

 
$
2,596

 
$
2,432

Stock-Based Compensation (Tables)
Schedule Of Summary Of Stock Options 
 
Shares Under
Option

 
Weighted
Average Exercise
Price Per Share

 
Weighted Average
Remaining
Contractual Life
(in Years)
 
Aggregate
Intrinsic Value
(in millions)

Outstanding, September 29, 2012
19,067,360

 
$
14.82

 
 
 
 
Exercised
(8,778,028
)
 
13.96

 
 
 
 
Canceled
(177,144
)
 
16.04

 
 
 
 
Granted
3,799,980

 
19.36

 
 
 
 
Outstanding, September 28, 2013
13,912,168

 
16.59

 
6.8
 
$
167

 
 
 
 
 
 
 
 
Exercisable, September 28, 2013
6,423,287

 
$
14.87

 
4.9
 
$
88

Schedule Of Assumptions Of Fair Value Calculation Of Each Year's Grants 
Assumptions as of the grant date used in the fair value calculation of each year’s grants are outlined in the following table.
 
2013

 
2012

 
2011

Expected life (in years)
6.2

 
6.7

 
6.7

Risk-free interest rate
0.7
%
 
0.9
%
 
1.5
%
Expected volatility
36.8
%
 
36.6
%
 
38.8
%
Expected dividend yield
1.0
%
 
1.0
%
 
1.0
%
Schedule Of Summary Of Restricted Stock 
 
Number of Shares

 
Weighted
Average Grant-
Date Fair Value
Per Share

 
Weighted Average
Remaining
Contractual Life
(in Years)
 
Aggregate
Intrinsic Value
(in millions)

Nonvested, September 29, 2012
2,371,570

 
$
15.29

 
 
 
 
Granted
185,804

 
20.64

 
 
 
 
Dividends
21,010

 
24.68

 
 
 
 
Vested
(1,368,834
)
 
14.74

 
 
 
 
Forfeited
(70,851
)
 
17.43

 
 
 
 
Nonvested, September 28, 2013
1,138,699

 
$
16.86

 
1.0
 
$
33

Schedule Of Summary Of Performance-Based Shares 
 
Number of Shares

 
Weighted
Average Grant-
Date Fair Value
Per Share

 
Weighted Average
Remaining
Contractual Life
(in Years)
Nonvested, September 29, 2012
174,062

 
$
14.24

 
 
Granted
924,651

 
21.35

 
 
Vested
(32,468
)
 
12.35

 
 
Forfeited
(64,935
)
 
12.35

 
 
Nonvested, September 28, 2013
1,001,310

 
$
20.99

 
2.0
Pensions And Other Postretirement Benefits (Tables)
Schedule Of Reconciliation Of Changes In Plans' Benefit Obligations, Assets And Funded Status 
The following table provides a reconciliation of the changes in the plans’ benefit obligations, assets and funded status at September 28, 2013, and September 29, 2012:
 
 
 
 
 
 
 
 
 
in millions
 
 
Pension Benefits
 
Other Postretirement
 
Qualified
 
Non-Qualified
 
Benefits
 
2013

 
2012

 
2013

 
2012

 
2013

 
2012

Change in benefit obligation
 
 
 
 
 
 
 
 
 
 
 
Benefit obligation at beginning of year
$
101

 
$
99

 
$
81

 
$
62

 
$
64

 
$
44

Service cost
—

 
—

 
5

 
5

 
2

 
1

Interest cost
4

 
4

 
3

 
3

 
2

 
2

Plan participants’ contributions
—

 
—

 
—

 
—

 
1

 
1

Actuarial (gain)/loss
(9
)
 
5

 
(2
)
 
13

 
7

 
25

Benefits paid
(10
)
 
(7
)
 
(2
)
 
(2
)
 
(5
)
 
(9
)
Benefit obligation at end of year
86

 
101

 
85

 
81

 
71

 
64

Change in plan assets
 
 
 
 
 
 
 
 
 
 
 
Fair value of plan assets at beginning of year
86

 
74

 
—

 
—

 
—

 
—

Actual return on plan assets
3

 
13

 
—

 
—

 
—

 
—

Employer contributions
6

 
6

 
2

 
2

 
4

 
8

Plan participants’ contributions
—

 
—

 
—

 
—

 
1

 
1

Benefits paid
(10
)
 
(7
)
 
(2
)
 
(2
)
 
(5
)
 
(9
)
Fair value of plan assets at end of year
85

 
86

 
—

 
—

 
—

 
—

Funded status
$
(1
)
 
$
(15
)
 
$
(85
)
 
$
(81
)
 
$
(71
)
 
$
(64
)
Schedule Of Amounts Recognized In The Consolidated Balance Sheets 
Amounts recognized in the Consolidated Balance Sheets consist of:
 
 
 
 
 
 
 
 
 
in millions
 
 
Pension Benefits
 
Other Postretirement
 
Qualified
 
Non-Qualified
 
Benefits
 
2013

 
2012

 
2013

 
2012

 
2013

 
2012

Accrued benefit liability
$
(1
)
 
$
(15
)
 
$
(85
)
 
$
(81
)
 
$
(71
)
 
$
(64
)
Accumulated other comprehensive (income)/loss:
 
 
 
 
 
 
 
 
 
 
 
   Unrecognized actuarial loss
30

 
39

 
23

 
29

 
—

 
—

   Unrecognized prior service (cost)/credit
—

 
—

 
—

 
1

 
(3
)
 
(4
)
Net amount recognized
$
29

 
$
24

 
$
(62
)
 
$
(51
)
 
$
(74
)
 
$
(68
)
Schedule Of Plans With Accumulated Benefit Obligations In Excess Of Plan Assets 
Plans with accumulated benefit obligations in excess of plan assets are as follows:
 
 
 
 
 
in millions
 
 
Pension Benefits
 
Qualified
 
Non-Qualified
 
2013

 
2012

 
2013

 
2012

Projected benefit obligation
$
27

 
$
101

 
$
85

 
$
81

Accumulated benefit obligation
27

 
101

 
72

 
69

Fair value of plan assets
26

 
86

 
—

 
—

Schedule Of Components Of Net Periodic Benefit Cost For Pension And Postretirement Benefit Plans Recognized In The Consolidated Statements Of Income 
Components of net periodic benefit cost for pension and postretirement benefit plans recognized in the Consolidated Statements of Income are as follows:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
in millions
 
 
Pension Benefits
 
Other Postretirement
 
Qualified
 
Non-Qualified
 
Benefits
 
2013

 
2012

 
2011

 
2013

 
2012

 
2011

 
2013

 
2012

 
2011

Service cost
$
—

 
$
—

 
$
—

 
$
5

 
$
5

 
$
3

 
$
2

 
$
1

 
$
—

Interest cost
4

 
4

 
5

 
3

 
3

 
2

 
2

 
2

 
2

Expected return on plan assets
(5
)
 
(6
)
 
(6
)
 
—

 
—

 
—

 
—

 
—

 
—

Amortization of prior service cost
—

 
—

 
—

 
1

 
1

 
1

 
(1
)
 
(1
)
 
(1
)
Recognized actuarial loss, net
4

 
3

 
3

 
3

 
1

 
—

 
7

 
24

 
1

Net periodic benefit cost
$
3

 
$
1

 
$
2

 
$
12

 
$
10

 
$
6

 
$
10

 
$
26

 
$
2

Schedule Of Weighted Average Assumptions 
Weighted average assumptions are as follows:
 
Pension Benefits
 
Other Postretirement
 
Qualified
 
Non-Qualified
 
Benefits
 
2013

 
2012

 
2011

 
2013

 
2012

 
2011

 
2013

 
2012

 
2011

Discount rate to determine net periodic benefit cost
4.02
%
 
4.53
%
 
5.06
%
 
4.23
%
 
4.75
%
 
5.50
%
 
3.66
%
 
4.09
%
 
4.50
%
Discount rate to determine benefit obligations
4.77
%
 
4.02
%
 
4.53
%
 
5.09
%
 
4.23
%
 
4.75
%
 
4.48
%
 
3.66
%
 
4.09
%
Rate of compensation increase
N/A

 
N/A

 
N/A

 
3.50
%
 
3.50
%
 
3.50
%
 
N/A

 
N/A

 
N/A

Expected return on plan assets
5.44
%
 
6.37
%
 
7.79
%
 
N/A

 
N/A

 
N/A

 
N/A

 
N/A

 
N/A

Schedule Of Actual And Target Asset Allocation For Pension Plan Assets 
The following table sets forth the actual and target asset allocation for pension plan assets:
 
2013

 
2012

 
Target Asset
Allocation

Cash
1.6
%
 
1.6
%
 
—
%
Fixed Income Securities
79.1

 
46.0

 
83.0

U.S. Stock Funds
4.3

 
23.5

 
5.1

International Stock Funds
7.3

 
23.5

 
5.1

Real Estate
3.8

 
5.0

 
3.4

Alternatives
3.9

 
0.4

 
3.4

Total
100.0
%
 
100.0
%
 
100.0
%
Schedule Of Categories Of Pension Plan Assets And Level Under Which Fair Values Were Determined In Fair Value Hierarchy 
The following table shows the categories of pension plan assets and the level under which fair values were determined in the fair value hierarchy, which is described in Note 13: Fair Value Measurements.
 
in millions
 
 
September 28, 2013
 
Level 1

 
Level 2 (a)

 
Level 3 (b)

 
Total

Cash and cash equivalents
$
1

 
$
—

 
$
—

 
$
1

Fixed Income Securities Bond Fund
—

 
56

 
—

 
56

Equity Securities:
 
 
 
 
 
 
 
U.S. stock funds
—

 
3

 
—

 
3

International stock funds
—

 
5

 
—

 
5

Global real estate funds
—

 
3

 
—

 
3

Total equity securities
—

 
11

 
—

 
11

Alternative Funds
—

 
—

 
3

 
3

Insurance Contract
—

 
—

 
14

 
14

Total plan assets
$
1

 
$
67

 
$
17

 
$
85

(a)
Valued using the net asset value (NAV) provided by the trustee, which is a practical expedient to estimating fair value. The NAV is based on the fair value of the underlying investments within the funds and is determined daily.
(b)
Valued using the plan’s own assumptions about the assumptions market participants would use in pricing the assets based on the best information available, such as investment manager pricing.
Schedule Of Reconciliation Of Change In Fair Value Measurement Of Defined Benefit Plans' Consolidated Assets Using Significant Unobservable Inputs 
A reconciliation of the change in the fair value measurement of the defined benefit plans’ consolidated assets using significant unobservable inputs (Level 3) is as follows:
 
 
 
in millions
 
 
Alternative funds

 
Insurance contract

 
Total

Balance at September 29, 2012
$
—

 
$
17

 
$
17

Actual return on plan assets:
 
 
 
 
 
Assets still held at reporting date
—

 
1

 
1

Assets sold during the period
—

 
—

 
—

Purchases, sales and settlements, net
3

 
(4
)
 
(1
)
Transfers in and/or out of Level 3
—

 
—

 
—

Balance at September 28, 2013
$
3

 
$
14

 
$
17

Schedule Of Estimated Future Benefit Payments Expected To Be Paid 
The following benefit payments are expected to be paid:
 
 
 
 
 
in millions

 
Pension Benefits
 
Other Postretirement

 
Qualified

 
Non-Qualified

 
Benefits

2014
$
6

 
$
2

 
$
6

2015
7

 
3

 
6

2016
5

 
3

 
6

2017
5

 
3

 
5

2018
6

 
4

 
5

2019-2023
27

 
27

 
29

Comprehensive Income (Loss) (Tables)
Schedule Of Components Of Accumulated Other Comprehensive Income (Loss) 
The components of accumulated other comprehensive loss are as follows:
 
 
 
in millions

 
2013

 
2012

Accumulated other comprehensive income (loss), net of taxes:
 
 
 
Unrealized net hedging gain (loss)
$
(4
)
 
$
10

Unrealized net gain (loss) on investments
(2
)
 
1

Currency translation adjustment
(69
)
 
(32
)
Postretirement benefits reserve adjustments
(33
)
 
(42
)
Total accumulated other comprehensive loss
$
(108
)
 
$
(63
)
Schedule Of 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
 
 
 
2013
 
2012
 
2011
 
 
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
 
$
5

$
(2
)
$
3

 
$
16

$
(7
)
$
9

 
$
(25
)
$
10

$
(15
)
(Gain) loss reclassified to Other Income/Expense
 
4

(2
)
2

 
(4
)
2

(2
)
 
—

—

—

Unrealized gain (loss)
 
(31
)
12

(19
)
 
16

(6
)
10

 
4

(6
)
(2
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Investments:
 
 
 
 
 
 
 
 
 
 
 
 
Gain reclassified to Other Income/Expense
 
(1
)
—

(1
)
 
—

—

—

 
—

—

—

Unrealized gain (loss)
 
(4
)
2

(2
)
 
—

—

—

 
(12
)
4

(8
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Currency translation:
 
 
 
 
 
 
 
 
 
 
 
 
Translation gain reclassified to Other Income/Expense
 
(19
)
(1
)
(20
)
 
—

—

—

 
—

—

—

Translation adjustment
 
(20
)
3

(17
)
 
2

1

3

 
(42
)
1

(41
)
 
 
 
 
 
 
 
 
 
 
 
 
 
Postretirement benefits (Note 15)
 
15

(6
)
9

 
(6
)
2

(4
)
 
(21
)
8

(13
)
Total Other Comprehensive Income (Loss)
 
$
(51
)
$
6

$
(45
)
 
$
24

$
(8
)
$
16

 
$
(96
)
$
17

$
(79
)
Segment Reporting (Tables)
Schedule Of Segment Reporting Information, By Segment
 
in millions
 
 
Chicken

Beef

Pork

Prepared
Foods

International

Other

Intersegment
Sales

Consolidated

Fiscal year ended September 28, 2013
 
 
 
 
 
 
 
 
Sales
$
10,988

$
14,400

$
5,408

$
3,322

$
1,324

$
46

$
(1,114
)
$
34,374

Operating Income
683

296

332

101

(37
)
—

 
1,375

Total Other (Income) Expense
 
 
 
 
 
 
 
118

Income from Continuing Operations before Income Taxes
 
 
 
 
 
 
 
1,257

Depreciation
251

87

30

61

40

5

 
474

Total Assets
4,944

2,798

931

1,176

876

1,452

 
12,177

Additions to property, plant and equipment
253

105

22

87

58

33

 
558

Fiscal year ended September 29, 2012
 
 
 
 
 
 
 
 
Sales
$
10,270

$
13,755

$
5,510

$
3,237

$
1,104

$
167

$
(988
)
$
33,055

Operating Income (Loss)
554

218

417

181

(70
)
(14
)
 
1,286

Total Other (Income) Expense
 
 
 
 
 
 
 
321

Income from Continuing Operations before Income Taxes
 
 
 
 
 
 
 
965

Depreciation
228

86

30

54

40

5

 
443

Total Assets
4,934

2,634

895

960

968

1,505

 
11,896

Additions to property, plant and equipment
354

100

32

99

97

8

 
690

Fiscal year ended October 1, 2011
 
 
 
 
 
 
 
 
Sales
$
9,810

$
13,549

$
5,460

$
3,215

$
978

$
127

$
(1,107
)
$
32,032

Operating Income (Loss)
189

468

560

117

(21
)
(24
)
 
1,289

Total Other (Income) Expense
 
 
 
 
 
 
 
211

Income from Continuing Operations before Income Taxes
 
 
 
 
 
 
 
1,078

Depreciation
226

84

28

58

33

4

 
433

Total Assets
4,593

2,610

960

943

819

1,146

 
11,071

Additions to property, plant and equipment
381

88

27

58

83

6

 
643

Supplemental Cash Flow Information (Tables)
Schedule Of Cash Payments For Interest And Income Taxes
The following table summarizes cash payments for interest and income taxes:
 
 
 
 
 
in millions

 
2013

 
2012

 
2011

Interest, net of amounts capitalized
$
114

 
$
274

 
$
174

Income taxes, net of refunds
310

 
187

 
311

Commitments And Contingencies (Tables)
Schedule Of Minimum Lease Commitments Under Non-Cancelable Leases 
Minimum lease commitments under non-cancelable leases at September 28, 2013, were:
 
in millions

2014
$
97

2015
69

2016
46

2017
27

2018
16

2019 and beyond
78

Total
$
333

Schedule Of Future Purchase Commitments 
At September 28, 2013, these commitments totaled:
 
in millions

2014
$
1,482

2015
54

2016
48

2017
33

2018
24

2019 and beyond
74

Total
$
1,715

Quarterly Financial Data (Unaudited) (Tables)
Schedule Of Quarterly Financial Information
 
 
 
 
in millions, except per share data
 
 
 
First
Quarter

 
Second
Quarter

 
Third
Quarter

 
Fourth
Quarter

2013
 
 
 
 
 
 
 
 
Sales
 
$
8,366

 
$
8,383

 
$
8,731

 
$
8,894

Gross profit
 
539

 
468

 
682

 
669

Operating income
 
304

 
236

 
419

 
416

Net income
 
168

 
106

 
245

 
259

Amounts attributable to Tyson:
 
 
 
 
 
 
 
 
   Net income from continuing operations
 
177

 
157

 
253

 
261

   Net loss from discontinued operation
 
(4
)
 
(62
)
 
(4
)
 
—

Net income attributable to Tyson
 
173

 
95

 
249

 
261

 
 
 
 
 
 
 
 
 
Net income per share from continuing operations attributable to Tyson:
 
 
 
 
 
 
 
Class A Basic
 
$
0.51

 
$
0.45

 
$
0.73

 
$
0.77

Class B Basic
 
$
0.46

 
$
0.40

 
$
0.66

 
$
0.70

Diluted
 
$
0.49

 
$
0.43

 
$
0.69

 
$
0.70

Net loss per share from discontinued operation attributable to Tyson:
 
 
 
 
 
 
 
Class A Basic
 
$
(0.01
)
 
$
(0.18
)
 
$
(0.01
)
 
$
—

Class B Basic
 
$
(0.01
)
 
$
(0.15
)
 
$
(0.02
)
 
$
—

Diluted
 
$
(0.01
)
 
$
(0.17
)
 
$
(0.01
)
 
$
—

Net income per share attributable to Tyson:
 
 
 
 
 
 
 
 
Class A Basic
 
$
0.50

 
$
0.27

 
$
0.72

 
$
0.77

Class B Basic
 
$
0.45

 
$
0.25

 
$
0.64

 
$
0.70

Diluted
 
$
0.48

 
$
0.26

 
$
0.68

 
$
0.70

2012
 
 
 
 
 
 
 
 
Sales
 
$
8,258

 
$
8,221

 
$
8,261

 
$
8,315

Gross profit
 
497

 
537

 
566

 
590

Operating income
 
284

 
306

 
342

 
354

Net income
 
156

 
166

 
73

 
181

Amounts attributable to Tyson:
 
 
 
 
 
 
 
 
   Net income from continuing operations
 
162

 
170

 
82

 
207

   Net loss from discontinued operation
 
(6
)
 
(4
)
 
(6
)
 
(22
)
Net income attributable to Tyson
 
156

 
166

 
76

 
185

 
 
 
 
 
 
 
 
 
Net income per share from continuing operations attributable to Tyson:
 
 
 
 
 
 
 
Class A Basic
 
$
0.45

 
$
0.48

 
$
0.23

 
$
0.59

Class B Basic
 
$
0.41

 
$
0.43

 
$
0.20

 
$
0.53

Diluted
 
$
0.43

 
$
0.46

 
$
0.22

 
$
0.57

Net loss per share from discontinued operation attributable to Tyson:
 
 
 
 
 
 
 
Class A Basic
 
$
(0.02
)
 
$
(0.01
)
 
$
(0.02
)
 
$
(0.06
)
Class B Basic
 
$
(0.02
)
 
$
(0.01
)
 
$
(0.01
)
 
$
(0.05
)
Diluted
 
$
(0.01
)
 
$
(0.02
)
 
$
(0.01
)
 
$
(0.06
)
Net income per share attributable to Tyson:
 
 
 
 
 
 
 
 
Class A Basic
 
$
0.43

 
$
0.47

 
$
0.21

 
$
0.53

Class B Basic
 
$
0.39

 
$
0.42

 
$
0.19

 
$
0.48

Diluted
 
$
0.42

 
$
0.44

 
$
0.21

 
$
0.51

Condensed Consolidating Financial Statements (Tables)
Schedule Of Condensed Consolidating Statement Of Income 
Condensed Consolidating Statement of Income and Comprehensive Income for the year ended September 28, 2013
 
in millions
 
 
TFI
Parent

 
TFM
Parent

 
Non-
Guarantors

 
Eliminations

 
Total

Sales
$
431

 
$
19,243

 
$
16,120

 
$
(1,420
)
 
$
34,374

Cost of Sales
40

 
18,464

 
14,932

 
(1,420
)
 
32,016

Gross Profit
391

 
779

 
1,188

 
—

 
2,358

Selling, General and Administrative
68

 
201

 
714

 
—

 
983

Operating Income
323

 
578

 
474

 
—

 
1,375

Other (Income) Expense:

 

 

 

 

Interest expense, net
36

 
62

 
40

 
—

 
138

Other, net
4

 
(1
)
 
(23
)
 
—

 
(20
)
Equity in net earnings of subsidiaries
(582
)
 
(40
)
 
—

 
622

 
—

Total Other (Income) Expense
(542
)
 
21

 
17

 
622

 
118

Income from Continuing Operations before Income Taxes
865

 
557

 
457

 
(622
)
 
1,257

Income Tax Expense
87

 
172

 
150

 
—

 
409

Income from Continuing Operations
778

 
385

 
307

 
(622
)
 
848

Loss from Discontinued Operation, Net of Tax
—

 
—

 
(70
)
 
—

 
(70
)
Net Income
778

 
385

 
237

 
(622
)
 
778

Less: Net Loss Attributable to Noncontrolling Interests
—

 
—

 
—

 
—

 
—

Net Income Attributable to Tyson
$
778

 
$
385

 
$
237

 
$
(622
)
 
$
778

 


 


 


 


 


Comprehensive Income (Loss)
$
733

 
$
380

 
$
212

 
$
(592
)
 
$
733

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

 
—

 
—

 
—

 
—

Comprehensive Income (Loss) Attributable to Tyson
$
733

 
$
380

 
$
212

 
$
(592
)
 
$
733

Condensed Consolidating Statement of Income and Comprehensive Income for the year ended September 29, 2012
 
in millions
 
 
TFI
Parent

 
TFM
Parent

 
Non-
Guarantors

 
Eliminations

 
Total

Sales
$
352

 
$
18,832

 
$
15,152

 
$
(1,281
)
 
$
33,055

Cost of Sales
(4
)
 
18,088

 
14,061

 
(1,280
)
 
30,865

Gross Profit
356

 
744

 
1,091

 
(1
)
 
2,190

Selling, General and Administrative
59

 
205

 
641

 
(1
)
 
904

Operating Income
297

 
539

 
450

 
—

 
1,286

Other (Income) Expense:

 

 

 

 

Interest expense, net
49

 
143

 
152

 
—

 
344

Other, net
1

 
—

 
(24
)
 
—

 
(23
)
Equity in net earnings of subsidiaries
(427
)
 
(43
)
 
—

 
470

 
—

Total Other (Income) Expense
(377
)
 
100

 
128

 
470

 
321

Income from Continuing Operations before Income Taxes
674

 
439

 
322

 
(470
)
 
965

Income Tax Expense
91

 
130

 
130

 
—

 
351

Income from Continuing Operations
583

 
309

 
192

 
(470
)
 
614

Loss from Discontinued Operation, Net of Tax
—

 
—

 
(38
)
 
—

 
(38
)
Net Income
583

 
309

 
154

 
(470
)
 
576

Less: Net Loss Attributable to Noncontrolling Interests
—

 
—

 
(7
)
 
—

 
(7
)
Net Income Attributable to Tyson
$
583

 
$
309

 
$
161

 
$
(470
)
 
$
583

 


 


 


 


 


Comprehensive Income (Loss)
$
599

 
$
324

 
$
166

 
$
(497
)
 
$
592

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

 
—

 
(7
)
 
—

 
(7
)
Comprehensive Income (Loss) Attributable to Tyson
$
599

 
$
324

 
$
173

 
$
(497
)
 
$
599

Condensed Consolidating Statement of Income and Comprehensive Income for the year ended October 1, 2011
 
in millions
 
 
TFI
Parent

 
TFM
Parent

 
Non-
Guarantors

 
Eliminations

 
Total

Sales
$
157

 
$
18,636

 
$
14,466

 
$
(1,227
)
 
$
32,032

Cost of Sales
29

 
17,461

 
13,574

 
(1,227
)
 
29,837

Gross Profit
128

 
1,175

 
892

 
—

 
2,195

Selling, General and Administrative
52

 
215

 
639

 
—

 
906

Operating Income
76

 
960

 
253

 
—

 
1,289

Other (Income) Expense:
 
 
 
 
 
 
 
 
 
Interest expense, net
(26
)
 
148

 
109

 
—

 
231

Other, net
(9
)
 
—

 
(11
)
 
—

 
(20
)
Equity in net earnings of subsidiaries
(673
)
 
(115
)
 
—

 
788

 
—

Total Other (Income) Expense
(708
)
 
33

 
98

 
788

 
211

Income from Continuing Operations before Income Taxes
784

 
927

 
155

 
(788
)
 
1,078

Income Tax Expense
34

 
272

 
34

 
—

 
340

Income from Continuing Operations
750

 
655

 
121

 
(788
)
 
738

Loss from Discontinued Operation, Net of Tax
—

 
—

 
(5
)
 
—

 
(5
)
Net Income
750

 
655

 
116

 
(788
)
 
733

Less: Net Loss Attributable to Noncontrolling Interests
—

 
—

 
(17
)
 
—

 
(17
)
Net Income Attributable to Tyson
$
750

 
$
655

 
$
133

 
$
(788
)
 
$
750

 


 


 


 


 


Comprehensive Income (Loss)
$
671

 
$
606

 
$
77

 
$
(700
)
 
$
654

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

 
—

 
(17
)
 
—

 
(17
)
Comprehensive Income (Loss) Attributable to Tyson
$
671

 
$
606

 
$
94

 
$
(700
)
 
$
671

Schedule Of Condensed Consolidating Balance Sheet 
Condensed Consolidating Balance Sheet as of September 28, 2013
 
in millions
 
 
TFI
Parent

 
TFM
Parent

 
Non-
Guarantors

 
Eliminations

 
Total

Assets
 
 
 
 
 
 
 
 
 
Current Assets:
 
 
 
 
 
 
 
 
 
Cash and cash equivalents
$
—

 
$
21

 
$
1,124

 
$
—

 
$
1,145

Accounts receivable, net
—

 
571

 
926

 
—

 
1,497

Inventories
—

 
1,039

 
1,778

 
—

 
2,817

Other current assets
351

 
88

 
117

 
(411
)
 
145

Total Current Assets
351

 
1,719

 
3,945

 
(411
)
 
5,604

Net Property, Plant and Equipment
32

 
891

 
3,130

 
—

 
4,053

Goodwill
—

 
881

 
1,021

 
—

 
1,902

Intangible Assets
—

 
21

 
117

 
—

 
138

Other Assets
895

 
162

 
244

 
(821
)
 
480

Investment in Subsidiaries
11,975

 
2,035

 
—

 
(14,010
)
 
—

Total Assets
$
13,253

 
$
5,709

 
$
8,457

 
$
(15,242
)
 
$
12,177

Liabilities and Shareholders’ Equity
 
 
 
 
 
 
 
 
 
Current Liabilities:
 
 
 
 
 
 
 
 
 
Current debt
$
457

 
$
132

 
$
251

 
$
(327
)
 
$
513

Accounts payable
27

 
575

 
757

 
—

 
1,359

Other current liabilities
4,625

 
200

 
901

 
(4,588
)
 
1,138

Total Current Liabilities
5,109

 
907

 
1,909

 
(4,915
)
 
3,010

Long-Term Debt
1,770

 
679

 
241

 
(795
)
 
1,895

Deferred Income Taxes
24

 
93

 
362

 
—

 
479

Other Liabilities
149

 
155

 
282

 
(26
)
 
560

 
 
 
 
 
 
 
 
 
 
Total Tyson Shareholders’ Equity
6,201

 
3,875

 
5,631

 
(9,506
)
 
6,201

Noncontrolling Interests
—

 
—

 
32

 
—

 
32

Total Shareholders’ Equity
6,201

 
3,875

 
5,663

 
(9,506
)
 
6,233

Total Liabilities and Shareholders’ Equity
$
13,253

 
$
5,709

 
$
8,457

 
$
(15,242
)
 
$
12,177

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 Interests
—

 
—

 
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

Schedule Of Condensed Consolidating Statement Of Cash Flows 
Condensed Consolidating Statement of Cash Flows for the year ended September 28, 2013
 
in millions
 
 
TFI
Parent

 
TFM
Parent

 
Non-
Guarantors

 
Eliminations

 
Total

Cash Provided by (Used for) Operating Activities
$
294

 
$
337

 
$
696

 
$
(13
)
 
$
1,314

Cash Flows from Investing Activities:
 
 
 
 
 
 
 
 
 
Additions to property, plant and equipment
(4
)
 
(113
)
 
(441
)
 
—

 
(558
)
(Purchases of)/Proceeds from marketable securities, net
—

 
(13
)
 
(5
)
 
—

 
(18
)
Proceeds from notes receivable
—

 
—

 
—

 
—

 
—

Acquisitions, net of cash acquired
—

 
—

 
(106
)
 
—

 
(106
)
Other, net
—

 
3

 
36

 
—

 
39

Cash Provided by (Used for) Investing Activities
(4
)
 
(123
)
 
(516
)
 
—

 
(643
)
Cash Flows from Financing Activities:
 
 
 
 
 
 
 
 
 
Net change in debt
5

 
—

 
(28
)
 
—

 
(23
)
Purchase of redeemable noncontrolling interest
—

 
—

 
—

 
—

 
—

Purchases of Tyson Class A common stock
(614
)
 
—

 
—

 
—

 
(614
)
Dividends
(104
)
 
—

 
(13
)
 
13

 
(104
)
Stock options exercised
123

 
—

 
—

 
—

 
123

Other, net
18

 
—

 
—

 
—

 
18

Net change in intercompany balances
281

 
(202
)
 
(79
)
 
—

 
—

Cash Provided by (Used for) Financing Activities
(291
)
 
(202
)
 
(120
)
 
13

 
(600
)
Effect of Exchange Rate Change on Cash
—

 
—

 
3

 
—

 
3

Increase (Decrease) in Cash and Cash Equivalents
(1
)
 
12

 
63

 
—

 
74

Cash and Cash Equivalents at Beginning of Year
1

 
9

 
1,061

 
—

 
1,071

Cash and Cash Equivalents at End of Year
$
—

 
$
21

 
$
1,124

 
$
—

 
$
1,145

Condensed Consolidating Statement of Cash Flows for the year ended September 29, 2012
 
in millions
 
 
TFI
Parent

 
TFM
Parent

 
Non-
Guarantors

 
Eliminations

 
Total

Cash Provided by (Used for) Operating Activities
$
312

 
$
438

 
$
447

 
$
(10
)
 
$
1,187

Cash Flows from Investing Activities:
 
 
 
 
 
 
 
 
 
Additions to property, plant and equipment
(1
)
 
(104
)
 
(585
)
 
—

 
(690
)
(Purchases of)/Proceeds from marketable securities, net
—

 
(7
)
 
(4
)
 
—

 
(11
)
Proceeds from notes receivable
—

 
—

 
—

 
—

 
—

Acquisitions, net of cash acquired
—

 
—

 
—

 
—

 
—

Other, net
1

 
5

 
35

 
—

 
41

Cash Provided by (Used for) Investing Activities
—

 
(106
)
 
(554
)
 
—

 
(660
)
Cash Flows from Financing Activities:
 
 
 
 
 
 
 
 
 
Net change in debt
107

 
—

 
16

 
—

 
123

Purchase of redeemable noncontrolling interest
—

 
—

 
—

 
—

 
—

Purchases of Tyson Class A common stock
(264
)
 
—

 
—

 
—

 
(264
)
Dividends
(57
)
 
—

 
(10
)
 
10

 
(57
)
Stock options exercised
34

 
—

 
—

 
—

 
34

Other, net
(8
)
 
—

 
1

 
—

 
(7
)
Net change in intercompany balances
(124
)
 
(324
)
 
448

 
—

 
—

Cash Provided by (Used for) Financing Activities
(312
)
 
(324
)
 
455

 
10

 
(171
)
Effect of Exchange Rate Change on Cash
—

 
—

 
(1
)
 
—

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

 
8

 
347

 
—

 
355

Cash and Cash Equivalents at Beginning of Year
1

 
1

 
714

 
—

 
716

Cash and Cash Equivalents at End of Year
$
1

 
$
9

 
$
1,061

 
$
—

 
$
1,071

Condensed Consolidating Statement of Cash Flows for the year ended October 1, 2011
 
in millions
 
 
TFI
Parent

 
TFM
Parent

 
Non-
Guarantors

 
Eliminations

 
Total

Cash Provided by (Used for) Operating Activities
$
31

 
$
564

 
$
471

 
$
(20
)
 
$
1,046

Cash Flows from Investing Activities:
 
 
 
 
 
 
 
 
 
Additions to property, plant and equipment
(1
)
 
(107
)
 
(535
)
 
—

 
(643
)
(Purchases of)/Proceeds from marketable securities, net
—

 
(57
)
 
(23
)
 
—

 
(80
)
Proceeds from notes receivable
—

 
—

 
51

 
—

 
51

Acquisitions, net of cash acquired
—

 
—

 
—

 
—

 
—

Other, net
23

 
—

 
5

 
—

 
28

Cash Provided by (Used for) Investing Activities
22

 
(164
)
 
(502
)
 
—

 
(644
)
Cash Flows from Financing Activities:
 
 
 
 
 
 
 
 
 
Net change in debt
(391
)
 
(6
)
 
12

 
—

 
(385
)
Purchase of redeemable noncontrolling interest
—

 
—

 
(66
)
 
—

 
(66
)
Purchases of Tyson Class A common stock
(207
)
 
—

 
—

 
—

 
(207
)
Dividends
(59
)
 
—

 
(20
)
 
20

 
(59
)
Stock options exercised
51

 
—

 
—

 
—

 
51

Other, net
(2
)
 
—

 
10

 
—

 
8

Net change in intercompany balances
554

 
(395
)
 
(159
)
 
—

 
—

Cash Provided by (Used for) Financing Activities
(54
)
 
(401
)
 
(223
)
 
20

 
(658
)
Effect of Exchange Rate Change on Cash
—

 
—

 
(6
)
 
—

 
(6
)
Increase (Decrease) in Cash and Cash Equivalents
(1
)
 
(1
)
 
(260
)
 
—

 
(262
)
Cash and Cash Equivalents at Beginning of Year
2

 
2

 
974

 
—

 
978

Cash and Cash Equivalents at End of Year
$
1

 
$
1

 
$
714

 
$
—

 
$
716

Business And Summary Of Significant Accounting Policies (Schedule Of Inventories Of Processed Products, Livestock, And Supplies Valued At Lower Of Cost Or Market) (Details) (USD $)
In Millions, unless otherwise specified
Sep. 28, 2013
Sep. 29, 2012
Processed products: [Abstract]
 
 
Weighted-average method - chicken, prepared foods and international
$ 799 
$ 754 
First-in, first-out method - beef and pork
624 
611 
Livestock - first-in, first-out method
1,002 
952 
Supplies and other - weighted-average method
392 
492 
Total inventory
$ 2,817 
$ 2,809 
Business and Summary Of Significant Accounting Policies (Share Repurchases) (Details) (USD $)
In Millions, unless otherwise specified
1 Months Ended 12 Months Ended
May 31, 2012
Sep. 28, 2013
Sep. 29, 2012
Oct. 1, 2011
May 11, 2011
Equity, Class of Treasury Stock [Line Items]
 
 
 
 
 
Purchases of treasury shares
 
$ 614.00 
$ 264.00 
$ 207.00 
 
Class A [Member]
 
 
 
 
 
Equity, Class of Treasury Stock [Line Items]
 
 
 
 
 
Common shares repurchased during the period
 
23.9 
14.3 
11.7 
 
Purchases of treasury shares
 
614.00 
264.00 
207.00 
 
Class A [Member] |
Share Repurchase Program [Member]
 
 
 
 
 
Equity, Class of Treasury Stock [Line Items]
 
 
 
 
 
Remaining shares available to repurchase
 
14.2 
 
 
22.5 
Increase in authorized shares to repurchase
35 
 
 
 
 
Common shares repurchased during the period
 
21.1 
12.5 
9.7 
 
Purchases of treasury shares
 
550.00 
230.00 
170.00 
 
Class A [Member] |
Open Market Repurchases [Member]
 
 
 
 
 
Equity, Class of Treasury Stock [Line Items]
 
 
 
 
 
Common shares repurchased during the period
 
2.8 
1.8 
2.0 
 
Purchases of treasury shares
 
$ 64.00 
$ 34.00 
$ 37.00 
 
Business And Summary Of Significant Accounting Policies (Narrative) (Details) (USD $)
12 Months Ended 0 Months Ended 12 Months Ended 0 Months Ended 12 Months Ended 12 Months Ended 12 Months Ended 0 Months Ended
Sep. 28, 2013
Classes
Country
Sep. 29, 2012
Oct. 1, 2011
Sep. 28, 2013
Tyson Limited Partnership And Tyson Family [Member]
Dec. 14, 2012
Class A [Member]
Sep. 28, 2013
Class A [Member]
votes
Sep. 29, 2012
Class A [Member]
Oct. 1, 2011
Class A [Member]
Sep. 28, 2013
Class A [Member]
Tyson Limited Partnership And Tyson Family [Member]
Dec. 14, 2012
Class B [Member]
Sep. 28, 2013
Class B [Member]
votes
Sep. 29, 2012
Class B [Member]
Oct. 1, 2011
Class B [Member]
Sep. 28, 2013
Class B [Member]
Tyson Limited Partnership [Member]
Sep. 28, 2013
Variable Interest Entity, Primary Beneficiary [Member]
Sep. 29, 2012
Variable Interest Entity, Primary Beneficiary [Member]
Sep. 28, 2013
Buildings And Leasehold Improvements [Member]
Minimum [Member]
Sep. 28, 2013
Buildings And Leasehold Improvements [Member]
Maximum [Member]
Sep. 28, 2013
Machinery And Equipment [Member]
Minimum [Member]
Sep. 28, 2013
Machinery And Equipment [Member]
Maximum [Member]
Sep. 28, 2013
Land Improvements and Other [Member]
Minimum [Member]
Sep. 28, 2013
Land Improvements and Other [Member]
Maximum [Member]
Nov. 14, 2013
Class A [Member]
Nov. 14, 2013
Class B [Member]
Accounting Policies [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Brand name food products marketed to approximate number of countries worldwide
130 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Checks outstanding in excess of related book cash
$ 246,000,000 
$ 265,000,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Allowance for uncollectible accounts
46,000,000 
33,000,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Property, plant, and equipment estimated lives
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
10 years 
33 years 
3 years 
12 years 
3 years 
20 years 
 
 
Ownership interest percentage, investment in Dynamic Fuels, LLC joint venture
 
 
 
 
 
 
 
 
 
 
 
 
 
 
50.00% 
 
 
 
 
 
 
 
 
 
Variable interest entity total assets
 
 
 
 
 
 
 
 
 
 
 
 
 
 
166,000,000 
177,000,000 
 
 
 
 
 
 
 
 
Variable interest entity net property, plant and equipment
 
 
 
 
 
 
 
 
 
 
 
 
 
 
142,000,000 
146,000,000 
 
 
 
 
 
 
 
 
Variable interest entity total liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
113,000,000 
124,000,000 
 
 
 
 
 
 
 
 
Variable Interest Entity, Consolidated, Carrying Amount, Long-term Debt
 
 
 
 
 
 
 
 
 
 
 
 
 
 
100,000,000 
100,000,000 
 
 
 
 
 
 
 
 
Number of classes of common stock
2 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Common stock, par value
 
 
 
 
 
$ 0.10 
$ 0.10 
 
 
 
$ 0.10 
$ 0.10 
 
 
 
 
 
 
 
 
 
 
 
 
Votes per share
 
 
 
 
 
1 
 
 
 
 
10 
 
 
 
 
 
 
 
 
 
 
 
 
 
Tyson Family Ownership Percentage
 
 
 
 
 
 
 
 
2.09% 
 
 
 
 
99.981% 
 
 
 
 
 
 
 
 
 
 
Tyson family total voting power, percentage of outstanding voting stock
 
 
 
72.46% 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash dividends allowable to holders of Class B common stock without simultaneous payment to holders of Class A common stock
0 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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% 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Dividends Declared (USD per share)
 
 
 
 
 
$ 0.31 
$ 0.16 
$ 0.16 
 
 
$ 0.279 
$ 0.144 
$ 0.144 
 
 
 
 
 
 
 
 
 
$ 0.075 
$ 0.0675 
Common Stock, Dividends, Per Share, Cash Paid
 
 
 
 
$ 0.10 
$ 0.30 
 
 
 
$ 0.09 
$ 0.27 
 
 
 
 
 
 
 
 
 
 
 
 
 
Maximum length of time hedged anticipated transactions
18 months 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Advertising and promotion expenses
555,000,000 
496,000,000 
552,000,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Research and development costs
$ 50,000,000 
$ 43,000,000 
$ 42,000,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Acquisitions (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Sep. 28, 2013
Sep. 29, 2012
Oct. 1, 2011
Business Acquisition [Line Items]
 
 
 
Acquisitions, net of cash acquired
$ 106 
$ 0 
$ 0 
Purchase price of goodwill
1,902 
1,891 
1,892 
Series of Individually Immaterial Business Acquisitions [Member]
 
 
 
Business Acquisition [Line Items]
 
 
 
Number of businesses acquired
2 
 
 
Acquisitions, net of cash acquired
106 
 
 
Purchase price of property, plant and equipment
50 
 
 
Purchase price of intangible assets
41 
 
 
Purchase price of goodwill
12 
 
 
Shandong Tyson Xinchang Foods [Member]
 
 
 
Business Acquisition [Line Items]
 
 
 
Transaction closed amount for purchase of minority partner intrerest
 
 
$ 66 
Minority interest percentage purchased from exercise of put options
 
 
40.00% 
Discontinued Operation (Summary of Discontinued Operation's Results) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Sep. 28, 2013
Sep. 29, 2012
Oct. 1, 2011
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
 
 
 
Loss from Discontinued Operation, Net of Tax
$ (70)
$ (38)
$ (5)
Weifang Operation [Member]
 
 
 
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
 
 
 
Sales
108 
223 
234 
Pretax loss
(68)
(38)
(4)
Income tax expense
2 
0 
1 
Loss from Discontinued Operation, Net of Tax
$ (70)
$ (38)
$ (5)
Discontinued Operation (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended 3 Months Ended 12 Months Ended
Sep. 28, 2013
Sep. 29, 2012
Oct. 1, 2011
Mar. 30, 2013
Weifang Operation [Member]
Sep. 29, 2012
Weifang Operation [Member]
Sep. 28, 2013
Weifang Operation [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
 
 
 
 
 
 
Asset Impairment Charges
$ 74 
$ 34 
$ 18 
$ 56 
$ 15 
$ 56 
Property, Plant And Equipment (Details) (USD $)
In Millions, unless otherwise specified
Sep. 28, 2013
Sep. 29, 2012
Property, Plant and Equipment [Line Items]
 
 
Property, plant and equipment, gross
$ 9,202 
$ 8,883 
Less accumulated depreciation
5,149 
4,861 
Net property, plant and equipment
4,053 
4,022 
Amount required to complete construction of buildings and equipment under construction
418 
 
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
2,945 
2,868 
Machinery And Equipment [Member]
 
 
Property, Plant and Equipment [Line Items]
 
 
Property, plant and equipment, gross
5,504 
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
$ 236 
$ 298 
Goodwill And Other Intangible Assets (Goodwill Activity) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Sep. 28, 2013
Sep. 29, 2012
Oct. 1, 2011
Goodwill [Roll Forward]
 
 
 
Goodwill, gross
$ 2,491 
$ 2,480 
$ 2,481 
Accumulated impairment losses
(589)
(589)
(589)
Goodwill, net
1,902 
1,891 
1,892 
Impairment losses
0 
0 
 
Currency translation and other
(1)
(1)
 
Goodwill acquired
12 
 
 
Chicken [Member]
 
 
 
Goodwill [Roll Forward]
 
 
 
Goodwill, gross
908 
909 
911 
Accumulated impairment losses
0 
0 
0 
Goodwill, net
908 
909 
911 
Impairment losses
0 
0 
 
Currency translation and other
(1)
(2)
 
Goodwill acquired
0 
 
 
Beef [Member]
 
 
 
Goodwill [Roll Forward]
 
 
 
Goodwill, gross
1,123 
1,123 
1,123 
Accumulated impairment losses
(560)
(560)
(560)
Goodwill, net
563 
563 
563 
Impairment losses
0 
0 
 
Currency translation and other
0 
0 
 
Goodwill acquired
0 
 
 
Pork [Member]
 
 
 
Goodwill [Roll Forward]
 
 
 
Goodwill, gross
317 
317 
317 
Accumulated impairment losses
0 
0 
0 
Goodwill, net
317 
317 
317 
Impairment losses
0 
0 
 
Currency translation and other
0 
0 
 
Goodwill acquired
0 
 
 
Prepared Foods [Member]
 
 
 
Goodwill [Roll Forward]
 
 
 
Goodwill, gross
75 
63 
63 
Accumulated impairment losses
0 
0 
0 
Goodwill, net
75 
63 
63 
Impairment losses
0 
0 
 
Currency translation and other
0 
0 
 
Goodwill acquired
12 
 
 
International [Member]
 
 
 
Goodwill [Roll Forward]
 
 
 
Goodwill, gross
68 
68 
67 
Accumulated impairment losses
(29)
(29)
(29)
Goodwill, net
39 
39 
38 
Impairment losses
0 
0 
 
Currency translation and other
0 
1 
 
Goodwill acquired
$ 0 
 
 
Goodwill And Other Intangible Assets (Other Intangible Assets By Type) (Details) (USD $)
In Millions, unless otherwise specified
Sep. 28, 2013
Sep. 29, 2012
Finite-Lived Intangible Assets [Line Items]
 
 
Trademarks
$ 85 
$ 56 
Patents, intellectual property and other
152 
142 
Land Use Rights
8 
21 
Less Accumulated Amortization
107 
90 
Total Intangible Assets
$ 138 
$ 129 
Goodwill And Other Intangible Assets (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Sep. 28, 2013
Sep. 29, 2012
Oct. 1, 2011
Finite-Lived Intangible Assets [Line Items]
 
 
 
Amortization expense on intangible assets
$ 17 
$ 16 
$ 18 
Estimated amortization expense on intangible assets, 2014
18 
 
 
Estimated amortization expense on intangible assets, 2015
18 
 
 
Estimated amortization expense on intangible assets, 2016
17 
 
 
Estimated amortization expense on intangible assets, 2017
14 
 
 
Estimated amortization expense on intangible assets, 2018
$ 13 
 
 
Minimum [Member]
 
 
 
Finite-Lived Intangible Assets [Line Items]
 
 
 
Estimated period of benefit (years)
3 years 
 
 
Maximum [Member]
 
 
 
Finite-Lived Intangible Assets [Line Items]
 
 
 
Estimated period of benefit (years)
30 years 
 
 
Other Current Liabilities (Other Current Liabilities) (Details) (USD $)
In Millions, unless otherwise specified
Sep. 28, 2013
Sep. 29, 2012
Other Liabilities, Current [Abstract]
 
 
Accrued salaries, wages and benefits
$ 419 
$ 382 
Self-insurance reserves
267 
274 
Other
452 
287 
Total other current liabilities
$ 1,138 
$ 943 
Debt (Major Components Of Debt) (Details) (USD $)
In Millions, unless otherwise specified
Sep. 28, 2013
Sep. 29, 2012
Sep. 30, 2008
Debt Instrument [Line Items]
 
 
 
Revolving credit facility
$ 0 
$ 0 
 
Discount on senior notes
(6)
(28)
 
Other
80 
126 
 
Total debt
2,408 
2,432 
 
Less current debt
513 
515 
 
Total long-term debt
1,895 
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 
 
Interest rate at period end
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 
 
Discount on senior notes
 
(5)
 
Stated interest rate
4.50% 
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
0.07% 
 
 
Debt (Narrative) (Details) (USD $)
Share data in Millions, except Per Share data, unless otherwise specified
1 Months Ended 12 Months Ended 3 Months Ended 12 Months Ended 1 Months Ended 1 Months Ended 0 Months Ended
Sep. 28, 2013
Sep. 29, 2012
Sep. 28, 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]
Sep. 30, 2008
3.25% Convertible Senior Unsecured Notes Due October 15, 2013 [Member]
Common Class A [Member]
Sep. 28, 2013
3.25% Convertible Senior Unsecured Notes Due October 15, 2013 [Member]
Common Class A [Member]
Jan. 1, 2011
3.25% Convertible Senior Unsecured Notes Due October 15, 2013 [Member]
Accounting Standards Update 2010-11 [Member]
Oct. 2, 2010
3.25% Convertible Senior Unsecured Notes Due October 15, 2013 [Member]
Accounting Standards Update 2010-11 [Member]
Sep. 29, 2012
2016 Notes [Member]
Prior To Credit Rating Adjustment [Member]
Apr. 2, 2011
2016 Notes [Member]
Prior To Credit Rating Adjustment [Member]
Sep. 29, 2012
2016 Notes [Member]
After Credit Rating Adjustment [Member]
Apr. 2, 2011
2016 Notes [Member]
After Credit Rating Adjustment [Member]
Jun. 30, 2012
4.50% Senior Notes Due June 2022 (2022 Notes) [Member]
Sep. 28, 2013
4.50% Senior Notes Due June 2022 (2022 Notes) [Member]
Sep. 29, 2012
4.50% Senior Notes Due June 2022 (2022 Notes) [Member]
Oct. 31, 2008
GO Zone Tax-Exempt Bonds Due October 2033 [Member]
Sep. 28, 2013
GO Zone Tax-Exempt Bonds Due October 2033 [Member]
Sep. 28, 2013
Standby Letters of Credit [Member]
Sep. 28, 2013
Bilateral Letters Of Credit [Member]
Oct. 15, 2013
3.25% Convertible Senior Unsecured Notes Due October 15, 2013 (2013 Notes) [Member]
3.25% Convertible Senior Unsecured Notes Due October 15, 2013 [Member]
Oct. 15, 2013
3.25% Convertible Senior Unsecured Notes Due October 15, 2013 (2013 Notes) [Member]
3.25% Convertible Senior Unsecured Notes Due October 15, 2013 [Member]
Common Class A [Member]
Debt Instrument [Line Items]
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Maturities of debt in 2014
$ 514,000,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Maturities of debt in 2015
12,000,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Maturities of debt in 2016
645,000,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Maturities of debt in 2017
4,000,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Maturities of debt in 2018
120,000,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amount available under credit facility
1,000,000,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Amount available for borrowing under credit facility
958,000,000 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Letters of credit issued amount
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
42,000,000 
146,000,000 
 
 
Debt instrument, face amount
 
 
 
458,000,000 
 
 
 
 
 
 
 
 
 
 
1,000,000,000 
 
 
 
 
 
 
Interest rate
 
 
3.25% 
3.25% 
 
 
 
 
 
 
 
 
 
4.50% 
4.50% 
 
 
 
 
 
 
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 (years)
 
 
 
 
 
 
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 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Exercise price of warrants, per share
 
 
 
 
22.16 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Sensitivity of 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
 
 
 
 
 
$ 22.16 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Additional stock issuance if increase in share price of 10%
 
 
 
 
 
2.5 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Share Price
 
 
 
 
 
$ 28.60 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Additional Stock Issuance Required if Warrants are Exercised at Price Equal to Period End Closing Share Price
 
 
 
 
 
6.1 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Repayments of Long-term Debt
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
458,000,000 
 
Conversion of Convertible Securities, shares
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
11.7 
Stock Redeemed or Called During Period, Shares
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
11.7 
Interest rate at period end
 
 
 
 
 
 
 
 
6.85% 
7.35% 
6.60% 
6.85% 
 
 
 
 
0.07% 
 
 
 
 
Debt Instrument, Unamortized Discount
6,000,000 
28,000,000 
 
 
 
 
 
 
 
 
 
 
 
 
5,000,000 
 
 
 
 
 
 
Issue price percent of face value
 
 
 
 
 
 
 
 
 
 
 
 
99.458% 
 
 
 
 
 
 
 
 
Proceeds from Issuance of Unsecured Debt
 
 
 
 
 
 
 
 
 
 
 
 
995,000,000 
 
 
 
 
 
 
 
 
Payments of Debt Issuance Costs
 
 
 
 
 
 
 
 
 
 
 
 
9,000,000 
 
 
 
 
 
 
 
 
Proceeds from the sale of Gulf Opportunity Zone tax-exempt bonds
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
100,000,000 
 
 
 
 
 
Syntroleum Corporation Responsibility of Guarantee
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
50.00% 
 
 
 
 
Syntroleum Corporation Maximum Guarantee Responsibility
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$ 50,000,000 
 
 
 
 
Income Taxes (Provision For Income Taxes From Continuing Operations) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Sep. 28, 2013
Sep. 29, 2012
Oct. 1, 2011
Income Tax Disclosure [Abstract]
 
 
 
Federal
$ 341 
$ 310 
$ 320 
State
38 
22 
21 
Foreign
30 
19 
(1)
Current
421 
211 
254 
Deferred
(12)
140 
86 
Income Tax Expense
$ 409 
$ 351 
$ 340 
Income Taxes (Reasons For Differences Between Statutory Federal Tax Rate And Effective Income Tax Rate) (Details)
12 Months Ended
Sep. 28, 2013
Sep. 29, 2012
Oct. 1, 2011
Income Tax Disclosure [Abstract]
 
 
 
Federal income tax rate
35.00% 
35.00% 
35.00% 
State income taxes
2.40% 
1.50% 
1.60% 
General business credits
(1.30%)
(0.70%)
(0.90%)
Domestic production deduction
(3.20%)
(1.80%)
(2.30%)
Foreign rate differences and valuation allowances
0.30% 
1.80% 
0.00% 
Other
(0.60%)
0.60% 
(1.80%)
Effective income tax rate
32.60% 
36.40% 
31.60% 
Income Taxes (Tax Effects Of Major Items Recorded As Deferred Tax Assets And Liabilities) (Details) (USD $)
In Millions, unless otherwise specified
Sep. 28, 2013
Sep. 29, 2012
Income Tax Disclosure [Abstract]
 
 
Deferred Tax Assets, Property, plant and equipment
$ 0 
$ 0 
Deferred Tax Liabilities, Property, plant and equipment
525 
542 
Deferred Tax Assets, Suspended taxes from conversion to accrual method
0 
0 
Deferred Tax Liabilities, Suspended taxes from conversion to accrual method
71 
76 
Deferred Tax Assets, Intangible assets
0 
0 
Deferred Tax Liabilities, Intangible assets
29 
35 
Deferred Tax Assets, Inventory
8 
9 
Deferred Tax Liabilities, Inventory
110 
105 
Deferred Tax Assets, Accrued expenses
209 
193 
Deferred Tax Liabilities, Accrued expenses
0 
0 
Deferred Tax Assets, Net operating loss and other carryforwards
77 
101 
Deferred Tax Liabilities, Net operating loss and other carryforwards
0 
0 
Deferred Tax Assets, Insurance reserves
22 
21 
Deferred Tax Liabilities, Insurance reserves
0 
0 
Deferred Tax Assets, Other
60 
69 
Deferred Tax Liabilities, Other
98 
90 
Deferred Tax Assets, Gross
376 
393 
Deferred Tax Liabilities, Gross
833 
848 
Deferred Tax Assets, Valuation allowance
(77)
(78)
Net deferred tax liabilities
$ 534 
$ 533 
Income Taxes (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Sep. 28, 2013
Sep. 29, 2012
Oct. 1, 2011
Income Tax Disclosures [Line Items]
 
 
 
Domestic production deduction
$ 40 
$ 17 
$ 25 
General buisness credits
17 
 
9 
Reduction in foreign valuation allowance
 
10 
 
Income (Loss) from Continuing Operations before Income Taxes, Foreign
53 
2 
36 
Tax Credit Carryforward, Amount
22 
 
 
Undistributed Foreign Earnings
351 
230 
 
Unrecognized tax benefits that would impact effective tax rate
149 
154 
 
Unrecognized tax benefits, income tax penalties and interest accrued
63 
64 
 
Unrecognized tax benefits, changes that could result from tax audit resolutions
44 
 
 
State and Local Jurisdiction [Member]
 
 
 
Income Tax Disclosures [Line Items]
 
 
 
Operating Loss Carryforwards
457 
 
 
Foreign Country [Member]
 
 
 
Income Tax Disclosures [Line Items]
 
 
 
Operating Loss Carryforwards
116 
 
 
Foreign Country [Member] |
Expiring Member
 
 
 
Income Tax Disclosures [Line Items]
 
 
 
Operating Loss Carryforwards
$ 27 
 
 
Other Income And Charges (Details) (Other Income/Expense [Member], USD $)
In Millions, unless otherwise specified
3 Months Ended 12 Months Ended
Mar. 30, 2013
Sep. 28, 2013
Sep. 29, 2012
Oct. 1, 2011
Other Income/Expense [Member]
 
 
 
 
Components of Other Income and Expenses [Line Items]
 
 
 
 
Recognized currency translation adjustment gain
$ 19 
$ 19 
 
 
Equity Earnings In Joint Ventures
 
 
16 
 
Foreign currency exchange gains, net
 
 
4 
 
Gain on disposal of an equity method investment
 
 
 
$ 11 
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 12 Months Ended
Sep. 28, 2013
Jun. 29, 2013
Mar. 30, 2013
Dec. 29, 2012
Sep. 29, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2011
Sep. 28, 2013
Sep. 29, 2012
Oct. 1, 2011
Earnings Per Share, Basic and Diluted [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Net income
 
 
 
 
 
 
 
 
$ 848 
$ 614 
$ 738 
Less: Net loss from continuing operations attributable to noncontrolling interest
 
 
 
 
 
 
 
 
0 
(7)
(14)
Net income from continuing operations attributable to Tyson
261 
253 
157 
177 
207 
82 
170 
162 
848 
621 
752 
Undistributed earnings
 
 
 
 
 
 
 
 
742 
564 
693 
Stock options and restricted stock
 
 
 
 
 
 
 
 
5 
4 
6 
Convertible 2013 Notes
 
 
 
 
 
 
 
 
7 
3 
1 
Warrants
 
 
 
 
 
 
 
 
3 
0 
0 
Denominator for diluted earnings per share - adjusted weighted average shares and assumed conversions
 
 
 
 
 
 
 
 
367 
370 
380 
Net Income Per Share from Continuing Operations Attributable to Tyson - Diluted
$ 0.70 
$ 0.69 
$ 0.43 
$ 0.49 
$ 0.57 
$ 0.22 
$ 0.46 
$ 0.43 
$ 2.31 
$ 1.68 
$ 1.98 
Net Income Per Share Attributable to Tyson - Diluted
$ 0.70 
$ 0.68 
$ 0.26 
$ 0.48 
$ 0.51 
$ 0.21 
$ 0.44 
$ 0.42 
$ 2.12 
$ 1.58 
$ 1.97 
Class A [Member]
 
 
 
 
 
 
 
 
 
 
 
Earnings Per Share, Basic and Diluted [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Less dividends:
 
 
 
 
 
 
 
 
87 
47 
49 
Undistributed earnings
 
 
 
 
 
 
 
 
606 
464 
574 
Weighted average number of shares outstanding - Basic
 
 
 
 
 
 
 
 
282 
293 
303 
Net Income Per Share from Continuing Operations Attributable to Tyson - Basic
$ 0.77 
$ 0.73 
$ 0.45 
$ 0.51 
$ 0.59 
$ 0.23 
$ 0.48 
$ 0.45 
$ 2.46 
$ 1.75 
$ 2.05 
Net Income Per Share Attributable to Tyson - Basic
$ 0.77 
$ 0.72 
$ 0.27 
$ 0.50 
$ 0.53 
$ 0.21 
$ 0.47 
$ 0.43 
$ 2.26 
$ 1.64 
$ 2.04 
Class B [Member]
 
 
 
 
 
 
 
 
 
 
 
Earnings Per Share, Basic and Diluted [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Less dividends:
 
 
 
 
 
 
 
 
19 
10 
10 
Undistributed earnings
 
 
 
 
 
 
 
 
$ 136 
$ 100 
$ 119 
Weighted average number of shares outstanding - Basic
 
 
 
 
 
 
 
 
70 
70 
70 
Net Income Per Share from Continuing Operations Attributable to Tyson - Basic
$ 0.70 
$ 0.66 
$ 0.40 
$ 0.46 
$ 0.53 
$ 0.20 
$ 0.43 
$ 0.41 
$ 2.22 
$ 1.57 
$ 1.84 
Net Income Per Share Attributable to Tyson - Basic
$ 0.70 
$ 0.64 
$ 0.25 
$ 0.45 
$ 0.48 
$ 0.19 
$ 0.42 
$ 0.39 
$ 2.04 
$ 1.48 
$ 1.84 
Stock-based compensation [Member]
 
 
 
 
 
 
 
 
 
 
 
Earnings Per Share, Basic and Diluted [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount
 
 
 
 
 
 
 
 
0 
4 
4 
Earnings Per Share (Narrative) (Details)
In Millions, unless otherwise specified
12 Months Ended
Sep. 28, 2013
Sep. 29, 2012
Oct. 1, 2011
Earnings Per Share, Basic and Diluted [Line Items]
 
 
 
Number of classes of common stock
2 
 
 
Percentage amount of per share cash dividends paid to holders of Class B stock that cannot exceed paid to holders of Class A stock
90.00% 
 
 
Class A [Member]
 
 
 
Earnings Per Share, Basic and Diluted [Line Items]
 
 
 
Undistributed earnings (losses), ratio used to calculate allocation to class of stock
1 
 
 
Class B [Member]
 
 
 
Earnings Per Share, Basic and Diluted [Line Items]
 
 
 
Undistributed earnings (losses), ratio used to calculate allocation to class of stock
0.9 
 
 
Stock-based compensation [Member]
 
 
 
Earnings Per Share, Basic and Diluted [Line Items]
 
 
 
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount
0 
4 
4 
Derivative Financial Instruments (Pretax Impact Of Cash Flow Hedge Derivative Instruments On The Consolidated Statements Of Income) (Details) (Cash Flow Hedge [Member], USD $)
In Millions, unless otherwise specified
12 Months Ended
Sep. 28, 2013
Sep. 29, 2012
Oct. 1, 2011
Derivative [Line Items]
 
 
 
Gain/(Loss) Recognized in OCI on Derivatives
$ (31)
$ 16 
$ 4 
Gain/(Loss) Reclassified from OCI to Earnings
(9)
(12)
25 
Commodity Contracts [Member]
 
 
 
Derivative [Line Items]
 
 
 
Gain/(Loss) Recognized in OCI on Derivatives
(29)
24 
(5)
Commodity Contracts [Member] |
Cost of Sales [Member]
 
 
 
Derivative [Line Items]
 
 
 
Gain/(Loss) Reclassified from OCI to Earnings
(5)
(16)
25 
Foreign Currency [Member]
 
 
 
Derivative [Line Items]
 
 
 
Gain/(Loss) Recognized in OCI on Derivatives
(2)
(8)
9 
Foreign Currency [Member] |
Other Income/Expense [Member]
 
 
 
Derivative [Line Items]
 
 
 
Gain/(Loss) Reclassified from OCI to Earnings
$ (4)
$ 4 
$ 0 
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
12 Months Ended
Sep. 28, 2013
Sep. 29, 2012
Oct. 1, 2011
Forward Contracts [Member]
 
 
 
Derivative [Line Items]
 
 
 
Gain/(Loss) on forwards
$ 21 
$ 47 
$ (78)
Purchase Contracts [Member]
 
 
 
Derivative [Line Items]
 
 
 
Gain/(Loss) on forwards
$ (21)
$ (47)
$ 78 
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
12 Months Ended
Sep. 28, 2013
Sep. 29, 2012
Oct. 1, 2011
Derivative [Line Items]
 
 
 
Gain/(Loss) Recognized in Earnings
$ (32)
$ 41 
$ 15 
Commodity Contracts [Member] |
Sales [Member]
 
 
 
Derivative [Line Items]
 
 
 
Gain/(Loss) Recognized in Earnings
(10)
(10)
20 
Commodity Contracts [Member] |
Cost of Sales [Member]
 
 
 
Derivative [Line Items]
 
 
 
Gain/(Loss) Recognized in Earnings
(24)
51 
(2)
Foreign Exchange Contracts [Member] |
Other Income/Expense [Member]
 
 
 
Derivative [Line Items]
 
 
 
Gain/(Loss) Recognized in Earnings
$ 2 
$ 0 
$ (3)
Derivative Financial Instruments (Fair Value Of All Derivative Instruments) (Details) (USD $)
In Millions, unless otherwise specified
Sep. 28, 2013
Sep. 29, 2012
Derivative [Line Items]
 
 
Derivative Assets
$ 32 
$ 54 
Derivative Liabilities
102 
105 
Designated as Hedging Instrument [Member]
 
 
Derivative [Line Items]
 
 
Derivative Assets
5 
32 
Derivative Liabilities
29 
7 
Designated as Hedging Instrument [Member] |
Commodity Contracts [Member]
 
 
Derivative [Line Items]
 
 
Derivative Assets
4 
32 
Derivative Liabilities
29 
6 
Designated as Hedging Instrument [Member] |
Foreign Exchange Contracts [Member]
 
 
Derivative [Line Items]
 
 
Derivative Assets
1 
0 
Derivative Liabilities
0 
1 
Not Designated as Hedging Instrument [Member]
 
 
Derivative [Line Items]
 
 
Derivative Assets
27 
22 
Derivative Liabilities
73 
98 
Not Designated as Hedging Instrument [Member] |
Commodity Contracts [Member]
 
 
Derivative [Line Items]
 
 
Derivative Assets
25 
21 
Derivative Liabilities
72 
96 
Not Designated as Hedging Instrument [Member] |
Foreign Exchange Contracts [Member]
 
 
Derivative [Line Items]
 
 
Derivative Assets
2 
1 
Derivative Liabilities
$ 1 
$ 2 
Derivative Financial Instruments (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Sep. 28, 2013
M
Derivative [Line Items]
 
Maximum length of time hedged forecasted transactions, months
18 months 
Maximum length of time hedged undesignated positions, months
18 
Grain [Member]
 
Derivative [Line Items]
 
Cash flow hedge gain (loss) to be reclassified within twelve months
$ (7)
Foreign Currency [Member]
 
Derivative [Line Items]
 
Cash flow hedge gain (loss) to be reclassified within twelve months
$ 1 
Fair Value Measurements (Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) (USD $)
In Millions, unless otherwise specified
Sep. 28, 2013
Sep. 29, 2012
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Derivative assets and liabilities posted cash collateral
$ 79 
$ 59 
Fair Value, Measurements, Recurring [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Foreign Exchange Forward Contracts, Assets
2 
0 
Available-for-sale Securities, Current
1 
3 
Available-for-sale Securities, Noncurrent
93 
117 
Deferred Compensation Assets
214 
180 
Total Assets
318 
313 
Foreign Exchange Forward Contracts, Liabilities
1 
3 
Total Liabilities
1 
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
4 
6 
Deferred Compensation Assets
23 
31 
Total Assets
27 
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
3 
1 
Available-for-sale Securities, Current
1 
3 
Available-for-sale Securities, Noncurrent
24 
25 
Deferred Compensation Assets
191 
149 
Total Assets
248 
231 
Foreign Exchange Forward Contracts, Liabilities
1 
3 
Total Liabilities
102 
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
(1)
(1)
Available-for-sale Securities, Current
0 
0 
Available-for-sale Securities, Noncurrent
0 
0 
Deferred Compensation Assets
0 
0 
Total Assets
(22)
(41)
Foreign Exchange Forward Contracts, Liabilities
0 
0 
Total Liabilities
(101)
(100)
Commodity [Member] |
Fair Value, Measurements, Recurring [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Commodity Derivatives, Assets
8 
13 
Commodity Derivatives, Liabilities
0 
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, Assets
0 
0 
Commodity Derivatives, 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, Assets
29 
53 
Commodity Derivatives, Liabilities
101 
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, Assets
0 
0 
Commodity Derivatives, 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, Assets
(21)
(40)
Commodity Derivatives, Liabilities
$ (101)
$ (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
12 Months Ended
Sep. 28, 2013
Sep. 29, 2012
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
 
 
Balance at beginning of year
$ 86 
$ 83 
Total realized and unrealized gains (losses), Included in earnings
1 
1 
Total realized and unrealized gains (losses), Included in other comprehensive income (loss)
0 
0 
Purchases
19 
28 
Issuances
0 
0 
Settlements
(41)
(26)
Balance at end of year
65 
86 
Total gains (losses) for the periods included in earnings attributable to the change in unrealized gains (losses) relating to assets and liabilities still held at end of year
$ 0 
$ 0 
Fair Value Measurements (Schedule Of Available For Sale Securities) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Sep. 28, 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 
$ 2 
U.S. Treasury and Agency [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Amortized Cost Basis
25 
26 
Fair Value
25 
27 
Unrealized Gain/(Loss)
0 
1 
Corporate And Asset-Backed [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Amortized Cost Basis
64 
64 
Fair Value
65 
66 
Unrealized Gain/(Loss)
1 
2 
Redeemable Preferred Stock [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Amortized Cost Basis
0 
20 
Fair Value
0 
20 
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 
9 
Fair Value
4 
7 
Unrealized Gain/(Loss)
$ (5)
$ (2)
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 Syntroleum 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
Sep. 28, 2013
Sep. 29, 2012
Fair Value Disclosures [Abstract]
 
 
Total Debt, Fair Value
$ 2,541 
$ 2,596 
Total Debt, Carrying Value
$ 2,408 
$ 2,432 
Fair Value Measurements Fair Value Measurements (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Sep. 28, 2013
Sep. 29, 2012
Accounts Receivable [Member] |
Customer Concentration Risk [Member] |
Wal-Mart Stores, Inc. [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Concentration, Percentage
17.50% 
17.10% 
Weifang Operation [Member] |
Fair Value, Measurements, Nonrecurring [Member] |
Level 3 [Member] |
Chicken [Member]
 
 
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
 
 
Asset Impairment Charges
$ 56 
 
Stock-Based Compensation (Summary Of Stock Options) (Details) (USD $)
In Millions, except Share data, unless otherwise specified
12 Months Ended
Sep. 28, 2013
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
 
Shares Under Option - Outstanding, September 29, 2012
19,067,360 
Shares Under Option - Exercised
(8,778,028)
Shares Under Option - Canceled
(177,144)
Shares Under Option - Granted
3,799,980 
Shares Under Option - Outstanding, September 28, 2013
13,912,168 
Weighted Average Exercise Price Per Share - Outstanding, September 29, 2012
$ 14.82 
Weighted Average Exercise Price Per Share - Exercised
$ 13.96 
Weighted Average Exercise Price Per Share - Canceled
$ 16.04 
Weighted Average Exercise Price Per Share - Granted
$ 19.36 
Weighted Average Exercise Price Per Share - Outstanding, September 28, 2013
$ 16.59 
Weighted Average Remaining Contractual Life (in Years) - Outstanding, September 28, 2013
6 years 10 months 
Aggregate Intrinsic Value - Outstanding, September 28, 2013
$ 167 
Shares Under Option - Exercisable, September 28, 2013
6,423,287 
Weighted Average Exercise Price Per Share - Exercisable at September 28, 2013
$ 14.87 
Weighted Average Remaining Contractual Life (in Years) - Exercisable, September 28, 2013
4 years 11 months 
Aggregate Intrinsic Value - Exercisable, September 28, 2013
$ 88 
Stock-Based Compensation (Assumption Of Fair Value Calculation Of Each Year's Grants) (Details)
12 Months Ended
Sep. 28, 2013
Sep. 29, 2012
Oct. 1, 2011
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
 
 
 
Expected life (in years)
6 years 2 months 
6 years 8 months 
6 years 8 months 
Risk-free interest rate
0.70% 
0.90% 
1.50% 
Expected volatility
36.80% 
36.60% 
38.80% 
Expected dividend yield
1.00% 
1.00% 
1.00% 
Stock-Based Compensation (Summary Of Restricted Stock) (Details) (Restricted Stock [Member], USD $)
In Millions, except Share data, unless otherwise specified
12 Months Ended
Sep. 28, 2013
Sep. 29, 2012
Oct. 1, 2011
Restricted Stock [Member]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Total unrecognized compensation cost, time frame for recognition, weighted average number of years
1 year 
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested [Roll Forward]
 
 
 
Number of Shares - Nonvested, September 29, 2012
2,371,570 
 
 
Number of Shares - Granted
185,804 
 
 
Number of Shares - Dividends
21,010 
 
 
Number of Shares - Vested
(1,368,834)
(1,200,000)
(900,000)
Number of Shares - Forfeited
(70,851)
 
 
Number of Shares - Nonvested, September 28, 2013
1,138,699 
2,371,570 
 
Weighted Average Grant Date Fair Value Per Share - Unvested, September 29, 2012
$ 15.29 
 
 
Weighted Average Grant-Date Fair Value Per Share - Granted
$ 20.64 
 
 
Weighted Average Grant-Date Fair Value Per Share - Dividends
$ 24.68 
 
 
Weighted Average Grant-Date Fair Value Per Share - Vested
$ 14.74 
 
 
Weighted Average Grant-Date Fair Value Per Share - Forfeited
$ 17.43 
 
 
Weighted Average Grant Date Fair Value Per Share - Nonvested, September 28, 2013
$ 16.86 
$ 15.29 
 
Weighted Average Remaining Contractual Life (in Years), Nonvested, September 28, 2013
1 year 
 
 
Aggregate Intrinsic Value Nonvested, September 28, 2013
$ 33 
 
 
Stock-Based Compensation Stock-Based Compensation (Summary of Performance-Based Shares) (Details) (Performance Shares [Member], USD $)
12 Months Ended
Sep. 28, 2013
Performance Shares [Member]
 
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
 
Number of Shares - Nonvested, September 29, 2012
174,062 
Number of Shares - Granted
924,651 
Number of Shares - Vested
(32,468)
Number of Shares - Forfeited
(64,935)
Number of Shares - Nonvested, September 28, 2013
1,001,310 
Weighted Average Grant Date Fair Value Per Share - Unvested, September 29, 2012
$ 14.24 
Weighted Average Grant-Date Fair Value Per Share - Granted
$ 21.35 
Weighted Average Grant-Date Fair Value Per Share - Vested
$ 12.35 
Weighted Average Grant-Date Fair Value Per Share - Forfeited
$ 12.35 
Weighted Average Grant Date Fair Value Per Share - Nonvested, September 28, 2013
$ 20.99 
Weighted Average Remaining Contractual Life (in Years), Nonvested, September 28, 2013
2 years 
Stock-Based Compensation (Narrative) (Details) (USD $)
In Millions, except Share data, unless otherwise specified
12 Months Ended
Sep. 28, 2013
Sep. 29, 2012
Oct. 1, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Shares available for future grant
35,365,400 
 
 
Stock Options [Member]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Grant-date fair value of options granted
$ 6.44 
$ 6.99 
$ 6.19 
Stock-based compensation expense, net of income taxes
$ 14.0 
$ 15.0 
$ 12.0 
Related tax benefit
9.0 
10.0 
7.0 
Stock options, options vested
3,900,000 
3,400,000 
3,800,000 
Fair value of stock options vested
22 
17 
16 
Cash received from exercise of stock options
123 
34 
51 
Tax benefit related to stock options exercised
35 
7 
10 
Total intrinsic value of options exercised
90 
21 
26 
Tax deductions in excess of compensation cost of options (excess tax deductions)
18 
3 
5 
Total unrecognized compensation cost related to stock option plans
25 
 
 
Total unrecognized compensation cost, time frame for recognition, weighted average number of years
1 year 2 months 
 
 
Stock Options [Member] |
Minimum [Member]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Vesting period, years
3 years 
 
 
Stock Options [Member] |
Maximum [Member]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Vesting period, years
10 years 
 
 
Restricted Stock [Member]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Stock-based compensation expense, net of income taxes
5.0 
7.0 
7.0 
Related tax benefit
3.0 
4.0 
5.0 
Total unrecognized compensation cost related to share-based awards other than options
8 
 
 
Total unrecognized compensation cost, time frame for recognition, weighted average number of years
1 year 
 
 
Restricted stock awards, shares vested
1,368,834 
1,200,000 
900,000 
Restricted stock awards, grant date fair value
20 
17 
14 
Performance Shares [Member]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Stock-based compensation expense, net of income taxes
2.4 
0.2 
0.3 
Related tax benefit
1.5 
0.1 
0.2 
Total unrecognized compensation cost related to share-based awards other than options
$ 10 
 
 
Total unrecognized compensation cost, time frame for recognition, weighted average number of years
2 years 
 
 
Restricted stock awards, shares vested
32,468 
 
 
Performance Shares [Member] |
Minimum [Member]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Vesting period, years
3 years 
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage
0.00% 
 
 
Performance Shares [Member] |
Maximum [Member]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
 
 
 
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage
200.00% 
 
 
Pensions And Other Postretirement Benefits (Reconciliation Of Changes In Plans' Benefit Obligations, Assets And Funded Status) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Sep. 28, 2013
Sep. 29, 2012
Oct. 1, 2011
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
 
 
 
Employer contributions
$ 8 
$ 8 
$ 7 
Ending balance
85 
 
 
Defined Pension Benefits [Member] |
Qualified [Member]
 
 
 
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
 
 
 
Benefit obligation at beginning of year
101 
99 
 
Service cost
0 
0 
0 
Interest cost
4 
4 
5 
Plan participants' contributions
0 
0 
 
Actuarial (gain) loss
(9)
5 
 
Benefits paid
(10)
(7)
 
Benefit obligation at end of year
86 
101 
99 
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
 
 
 
Beginning balance
86 
74 
 
Actual return on plan assets
3 
13 
 
Employer contributions
6 
6 
 
Plan participants' contributions
0 
0 
 
Benefits paid
(10)
(7)
 
Ending balance
85 
86 
74 
Funded status
(1)
(15)
 
Defined Pension Benefits [Member] |
Non-Qualified [Member]
 
 
 
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
 
 
 
Benefit obligation at beginning of year
81 
62 
 
Service cost
5 
5 
3 
Interest cost
3 
3 
2 
Plan participants' contributions
0 
0 
 
Actuarial (gain) loss
(2)
13 
 
Benefits paid
(2)
(2)
 
Benefit obligation at end of year
85 
81 
62 
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
 
 
 
Beginning balance
0 
0 
 
Actual return on plan assets
0 
0 
 
Employer contributions
2 
2 
 
Plan participants' contributions
0 
0 
 
Benefits paid
(2)
(2)
 
Ending balance
0 
0 
0 
Funded status
(85)
(81)
 
Other Postretirement Benefits [Member]
 
 
 
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward]
 
 
 
Benefit obligation at beginning of year
64 
44 
 
Service cost
2 
1 
0 
Interest cost
2 
2 
2 
Plan participants' contributions
1 
1 
 
Actuarial (gain) loss
7 
25 
 
Benefits paid
(5)
(9)
 
Benefit obligation at end of year
71 
64 
44 
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward]
 
 
 
Beginning balance
0 
0 
 
Actual return on plan assets
0 
0 
 
Employer contributions
4 
8 
 
Plan participants' contributions
1 
1 
 
Benefits paid
(5)
(9)
 
Ending balance
0 
0 
0 
Funded status
$ (71)
$ (64)
 
Pensions And Other Postretirement Benefits (Amounts Recognized In The Consolidated Balance Sheets) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Sep. 28, 2013
Sep. 29, 2012
Defined Pension Benefits [Member] |
Qualified [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Accrued benefit liability
$ (1)
$ (15)
Unrecognized actuarial loss
30 
39 
Unrecognized prior service (cost)/credit
0 
0 
Net amount recognized
29 
24 
Defined Pension Benefits [Member] |
Non-Qualified [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Accrued benefit liability
(85)
(81)
Unrecognized actuarial loss
23 
29 
Unrecognized prior service (cost)/credit
0 
1 
Net amount recognized
(62)
(51)
Other Postretirement Benefits [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Accrued benefit liability
(71)
(64)
Unrecognized actuarial loss
0 
0 
Unrecognized prior service (cost)/credit
(3)
(4)
Net amount recognized
$ (74)
$ (68)
Pensions And Other Postretirement Benefits (Plans With Accumulated Benefit Obligations In Excess Of Plan Assets) (Details) (Defined Pension Benefits [Member], USD $)
In Millions, unless otherwise specified
Sep. 28, 2013
Sep. 29, 2012
Qualified [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Projected benefit obligation
$ 27 
$ 101 
Accumulated benefit obligation
27 
101 
Fair value of plan assets
26 
86 
Non-Qualified [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Projected benefit obligation
85 
81 
Accumulated benefit obligation
72 
69 
Fair value of plan assets
$ 0 
$ 0 
Pensions And Other Postretirement Benefits (Components Of Net Periodic Benefit Cost For Pension And Postretirement Benefit Plans Recognized In The Consolidated Statements Of Income) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Sep. 28, 2013
Sep. 29, 2012
Oct. 1, 2011
Defined Pension Benefits [Member] |
Qualified [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Service cost
$ 0 
$ 0 
$ 0 
Interest cost
4 
4 
5 
Expected return on plan assets
(5)
(6)
(6)
Amortization of prior service cost
0 
0 
0 
Recognized actuarial loss, net
4 
3 
3 
Net periodic benefit cost
3 
1 
2 
Defined Pension Benefits [Member] |
Non-Qualified [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Service cost
5 
5 
3 
Interest cost
3 
3 
2 
Expected return on plan assets
0 
0 
0 
Amortization of prior service cost
1 
1 
1 
Recognized actuarial loss, net
3 
1 
0 
Net periodic benefit cost
12 
10 
6 
Other Postretirement Benefits [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Service cost
2 
1 
0 
Interest cost
2 
2 
2 
Expected return on plan assets
0 
0 
0 
Amortization of prior service cost
(1)
(1)
(1)
Recognized actuarial loss, net
7 
24 
1 
Net periodic benefit cost
$ 10 
$ 26 
$ 2 
Pensions And Other Postretirement Benefits (Weighted Average Assumptions) (Details)
12 Months Ended
Sep. 28, 2013
Sep. 29, 2012
Oct. 1, 2011
Defined Pension Benefits [Member] |
Qualified [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Discount rate to determine net periodic benefit cost
4.02% 
4.53% 
5.06% 
Discount rate to determine benefit obligations
4.77% 
4.02% 
4.53% 
Expected return on plan assets
5.44% 
6.37% 
7.79% 
Defined Pension Benefits [Member] |
Non-Qualified [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Discount rate to determine net periodic benefit cost
4.23% 
4.75% 
5.50% 
Discount rate to determine benefit obligations
5.09% 
4.23% 
4.75% 
Rate of compensation increase
3.50% 
3.50% 
3.50% 
Other Postretirement Benefits [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Discount rate to determine net periodic benefit cost
3.66% 
4.09% 
4.50% 
Discount rate to determine benefit obligations
4.48% 
3.66% 
4.09% 
Pensions And Other Postretirement Benefits (Actual And Target Asset Allocation For Pension Plan Assets) (Details)
12 Months Ended
Sep. 28, 2013
Sep. 29, 2012
Defined Benefit Plan Disclosure [Line Items]
 
 
Actual Plan Asset Allocations - Fixed Income Securities
100.00% 
100.00% 
Target Plan Asset Allocations - Fixed Income Securities
100.00% 
 
Cash and Cash Equivalents [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Actual Plan Asset Allocations - Fixed Income Securities
1.60% 
1.60% 
Target Plan Asset Allocations - Fixed Income Securities
0.00% 
 
Fixed Income Funds [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Actual Plan Asset Allocations - Fixed Income Securities
79.10% 
46.00% 
Target Plan Asset Allocations - Fixed Income Securities
83.00% 
 
Real Estate [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Actual Plan Asset Allocations - Fixed Income Securities
3.80% 
5.00% 
Target Plan Asset Allocations - Fixed Income Securities
3.40% 
 
Alternatives [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Actual Plan Asset Allocations - Fixed Income Securities
3.90% 
0.40% 
Target Plan Asset Allocations - Fixed Income Securities
3.40% 
 
United States [Member] |
Equity Funds [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Actual Plan Asset Allocations - Fixed Income Securities
4.30% 
23.50% 
Target Plan Asset Allocations - Fixed Income Securities
5.10% 
 
International Stock Funds [Member] |
Equity Funds [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Actual Plan Asset Allocations - Fixed Income Securities
7.30% 
23.50% 
Target Plan Asset Allocations - Fixed Income Securities
5.10% 
 
Pensions And Other Postretirement Benefits (Categories Of Pension Plan Assets And Level Under Which Fair Values Were Determined In Fair Value Hierarchy) (Details) (USD $)
In Millions, unless otherwise specified
Sep. 28, 2013
Sep. 29, 2012
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined benefit pension plan assets
$ 85 
 
Level 1 [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined benefit pension plan assets
1 
 
Level 2 [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined benefit pension plan assets
67 
 
Level 3 [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined benefit pension plan assets
17 
17 
Cash and Cash Equivalents [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined benefit pension plan assets
1 
 
Cash and Cash Equivalents [Member] |
Level 1 [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined benefit pension plan assets
1 
 
Cash and Cash Equivalents [Member] |
Level 2 [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined benefit pension plan assets
0 
 
Cash and Cash Equivalents [Member] |
Level 3 [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined benefit pension plan assets
0 
 
U.S. Stock Funds [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined benefit pension plan assets
3 
 
U.S. Stock Funds [Member] |
Level 1 [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined benefit pension plan assets
0 
 
U.S. Stock Funds [Member] |
Level 2 [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined benefit pension plan assets
3 
 
U.S. Stock Funds [Member] |
Level 3 [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined benefit pension plan assets
0 
 
International Stock Funds [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined benefit pension plan assets
5 
 
International Stock Funds [Member] |
Level 1 [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined benefit pension plan assets
0 
 
International Stock Funds [Member] |
Level 2 [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined benefit pension plan assets
5 
 
International Stock Funds [Member] |
Level 3 [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined benefit pension plan assets
0 
 
Global Real Estate Funds [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined benefit pension plan assets
3 
 
Global Real Estate Funds [Member] |
Level 1 [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined benefit pension plan assets
0 
 
Global Real Estate Funds [Member] |
Level 2 [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined benefit pension plan assets
3 
 
Global Real Estate Funds [Member] |
Level 3 [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined benefit pension plan assets
0 
 
Equity Securities [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined benefit pension plan assets
11 
 
Equity Securities [Member] |
Level 1 [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined benefit pension plan assets
0 
 
Equity Securities [Member] |
Level 2 [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined benefit pension plan assets
11 
 
Equity Securities [Member] |
Level 3 [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined benefit pension plan assets
0 
 
Insurance Contract [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined benefit pension plan assets
14 
 
Insurance Contract [Member] |
Level 1 [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined benefit pension plan assets
0 
 
Insurance Contract [Member] |
Level 2 [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined benefit pension plan assets
0 
 
Insurance Contract [Member] |
Level 3 [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined benefit pension plan assets
14 
 
Fixed Income Securities Bond Fund [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined benefit pension plan assets
56 
 
Fixed Income Securities Bond Fund [Member] |
Level 1 [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined benefit pension plan assets
0 
 
Fixed Income Securities Bond Fund [Member] |
Level 2 [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined benefit pension plan assets
56 
 
Fixed Income Securities Bond Fund [Member] |
Level 3 [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined benefit pension plan assets
0 
 
Other Investments [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined benefit pension plan assets
3 
 
Other Investments [Member] |
Level 1 [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined benefit pension plan assets
0 
 
Other Investments [Member] |
Level 2 [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined benefit pension plan assets
0 
 
Other Investments [Member] |
Level 3 [Member]
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
Defined benefit pension plan assets
$ 3 
 
Pensions And Other Postretirement Benefits (Reconciliation Of Change In Fair Value Measurement Of Defined Benefit Plans' Consolidated Assets Using Significant Unobservable Inputs) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Sep. 28, 2013
Defined Benefit Plan Disclosure [Line Items]
 
Ending balance
$ 85 
Level 3 [Member]
 
Defined Benefit Plan Disclosure [Line Items]
 
Beginning balance
17 
Assets still held at reporting date
1 
Assets sold during the period
0 
Purchases, sales and settlements, net
(1)
Transfers in and/or out of Level 3
0 
Ending balance
17 
Level 3 [Member] |
Alternative Funds [Member]
 
Defined Benefit Plan Disclosure [Line Items]
 
Beginning balance
0 
Assets still held at reporting date
0 
Assets sold during the period
0 
Purchases, sales and settlements, net
3 
Transfers in and/or out of Level 3
0 
Ending balance
3 
Level 3 [Member] |
Insurance Contract [Member]
 
Defined Benefit Plan Disclosure [Line Items]
 
Beginning balance
17 
Assets still held at reporting date
1 
Assets sold during the period
0 
Purchases, sales and settlements, net
(4)
Transfers in and/or out of Level 3
0 
Ending balance
$ 14 
Pensions And Other Postretirement Benefits (Estimated Future Benefit Payments Expected To Be Paid) (Details) (USD $)
In Millions, unless otherwise specified
Sep. 28, 2013
Defined Pension Benefits [Member] |
Qualified [Member]
 
Defined Benefit Plan Disclosure [Line Items]
 
2014
$ 6 
2015
7 
2016
5 
2017
5 
2018
6 
2019-2023
27 
Defined Pension Benefits [Member] |
Non-Qualified [Member]
 
Defined Benefit Plan Disclosure [Line Items]
 
2014
2 
2015
3 
2016
3 
2017
3 
2018
4 
2019-2023
27 
Other Postretirement Benefits [Member]
 
Defined Benefit Plan Disclosure [Line Items]
 
2014
6 
2015
6 
2016
6 
2017
5 
2018
5 
2019-2023
$ 29 
Pensions And Other Postretirement Benefits (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Sep. 28, 2013
Sep. 29, 2012
Oct. 1, 2011
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Number of defined benefit plans with accumulated benefit obligations in excess of plan assets
3 
 
 
Postretirement medical obligation consisting of fixed annual payments
$ 23 
 
 
Postretirement medical obligation consisting of payments determined by healthcare cost trend
48 
 
 
Healthcare cost trend assumptions
7.60% 
 
 
One-percentage point increase in assumed healthcare cost trend
9 
 
 
One-percentage point decrease in assumed health care cost trend
5 
 
 
Defined benefit pension plan assets
85 
 
 
Expected contributions to pension plans for fiscal 2014
8 
 
 
Defined benefit plans funding
8 
8 
7 
Heathcare related [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Number of defined benefit plans
3 
 
 
Heathcare related [Member] |
Fixed Annual [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Number of defined benefit plans
2 
 
 
Domestic Pension Benefit Plans [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined benefit pension plan assets
71 
69 
 
Foreign Subsidiary Pension Benefit Plans [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined benefit pension plan assets
14 
17 
 
Minimum [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Expected rate of return on assets assumption years
5 
 
 
Maximum [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Expected rate of return on assets assumption years
10 
 
 
Qualified [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Accumulated benefit obligation
86 
101 
 
Qualified [Member] |
Defined Pension Benefits [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Amounts expected to be reclassified to earnings within next 12 months
2 
 
 
Defined benefit pension plan assets
85 
86 
74 
Defined benefit plans funding
6 
6 
 
Non-Qualified [Member] |
Defined Pension Benefits [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Amounts expected to be reclassified to earnings within next 12 months
2 
 
 
Defined benefit pension plan assets
0 
0 
0 
Defined benefit plans funding
2 
2 
 
Noncontributory [Domain]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Number of defined benefit plans
4 
 
 
Noncontributory [Domain] |
Funded [Member] |
Qualified [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Number of defined benefit plans
3 
 
 
Noncontributory [Domain] |
Unfunded [Member] |
Non-Qualified [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Number of defined benefit plans
1 
 
 
Contributory [Member]
 
 
 
Defined Benefit Plan Disclosure [Line Items]
 
 
 
Defined benefit programs recognized expenses
$ 50 
$ 47 
$ 45 
Comprehensive Income (Loss) (Components Of Accumulated Other Comprehensive Income (Loss)) (Details) (USD $)
In Millions, unless otherwise specified
Sep. 28, 2013
Sep. 29, 2012
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
 
 
Unrealized net hedging gain (loss)
$ (4)
$ 10 
Unrealized net gain (loss) on investments
(2)
1 
Currency translation adjustment
(69)
(32)
Postretirement benefits reserve adjustments
(33)
(42)
Total accumulated other comprehensive loss
$ (108)
$ (63)
Comprehensive Income (Loss) (Components Of Other Comprehensive Income (Loss)) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Sep. 28, 2013
Sep. 29, 2012
Oct. 1, 2011
Other Comprehensive Income Loss [Line Items]
 
 
 
Other comprehensive income (loss), Before Tax
$ (51)
$ 24 
$ (96)
Other comprehensive income (loss), Income Tax
6 
(8)
17 
Total Other Comprehensive Income (Loss), Net of Taxes
(45)
16 
(79)
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member]
 
 
 
Other Comprehensive Income Loss [Line Items]
 
 
 
Other Comprehensive Income (Loss), before Reclassifications, before Tax
(31)
16 
4 
Other Comprehensive Income (Loss), before Reclassifications, Tax
12 
(6)
(6)
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax
(19)
10 
(2)
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] |
Cost of Sales [Member]
 
 
 
Other Comprehensive Income Loss [Line Items]
 
 
 
Reclassification from Accumulated Other Comprehensive Income, before Tax
5 
16 
(25)
Reclassification from Accumulated Other Comprehensive Income, Tax
(2)
(7)
10 
Reclassification from Accumulated Other Comprehensive Income, Net of Tax
3 
9 
(15)
Accumulated Net Gain (Loss) from Designated or Qualifying Cash Flow Hedges [Member] |
Other Income Expense [Member]
 
 
 
Other Comprehensive Income Loss [Line Items]
 
 
 
Reclassification from Accumulated Other Comprehensive Income, before Tax
4 
(4)
0 
Reclassification from Accumulated Other Comprehensive Income, Tax
(2)
2 
0 
Reclassification from Accumulated Other Comprehensive Income, Net of Tax
2 
(2)
0 
Investments [Member]
 
 
 
Other Comprehensive Income Loss [Line Items]
 
 
 
Other Comprehensive Income (Loss), before Reclassifications, before Tax
(4)
0 
(12)
Other Comprehensive Income (Loss), before Reclassifications, Tax
2 
0 
4 
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax
(2)
0 
(8)
Investments [Member] |
Other Income Expense [Member]
 
 
 
Other Comprehensive Income Loss [Line Items]
 
 
 
Reclassification from Accumulated Other Comprehensive Income, before Tax
(1)
0 
0 
Reclassification from Accumulated Other Comprehensive Income, Tax
0 
0 
0 
Reclassification from Accumulated Other Comprehensive Income, Net of Tax
(1)
0 
0 
Currency Translation [Member]
 
 
 
Other Comprehensive Income Loss [Line Items]
 
 
 
Other Comprehensive Income (Loss), before Reclassifications, before Tax
(20)
2 
(42)
Other Comprehensive Income (Loss), before Reclassifications, Tax
3 
1 
1 
Other Comprehensive Income (Loss), before Reclassifications, Net of Tax
(17)
3 
(41)
Currency Translation [Member] |
Other Income Expense [Member]
 
 
 
Other Comprehensive Income Loss [Line Items]
 
 
 
Reclassification from Accumulated Other Comprehensive Income, before Tax
(19)
0 
0 
Reclassification from Accumulated Other Comprehensive Income, Tax
(1)
0 
0 
Reclassification from Accumulated Other Comprehensive Income, Net of Tax
(20)
0 
0 
Accumulated Defined Benefit Plans Adjustment [Member]
 
 
 
Other Comprehensive Income Loss [Line Items]
 
 
 
Other comprehensive income (loss), Before Tax
15 
(6)
(21)
Other comprehensive income (loss), Income Tax
(6)
2 
8 
Total Other Comprehensive Income (Loss), Net of Taxes
$ 9 
$ (4)
$ (13)
Segment Reporting (Segment Reporting Information, By Segment) (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 12 Months Ended
Sep. 28, 2013
Jun. 29, 2013
Mar. 30, 2013
Dec. 29, 2012
Sep. 29, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2011
Sep. 28, 2013
Sep. 29, 2012
Oct. 1, 2011
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Sales
$ 8,894 
$ 8,731 
$ 8,383 
$ 8,366 
$ 8,315 
$ 8,261 
$ 8,221 
$ 8,258 
$ 34,374 
$ 33,055 
$ 32,032 
Operating Income (Loss)
416 
419 
236 
304 
354 
342 
306 
284 
1,375 
1,286 
1,289 
Total Other (Income) Expense
 
 
 
 
 
 
 
 
118 
321 
211 
Income from Continuing Operations before Income Taxes
 
 
 
 
 
 
 
 
1,257 
965 
1,078 
Depreciation
 
 
 
 
 
 
 
 
474 
443 
433 
Total Assets
12,177 
 
 
 
11,896 
 
 
 
12,177 
11,896 
11,071 
Additions to property, plant and equipment
 
 
 
 
 
 
 
 
558 
690 
643 
Operating Segments [Member] |
Chicken [Member]
 
 
 
 
 
 
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Sales
 
 
 
 
 
 
 
 
10,988 
10,270 
9,810 
Operating Income (Loss)
 
 
 
 
 
 
 
 
683 
554 
189 
Depreciation
 
 
 
 
 
 
 
 
251 
228 
226 
Total Assets
4,944 
 
 
 
4,934 
 
 
 
4,944 
4,934 
4,593 
Additions to property, plant and equipment
 
 
 
 
 
 
 
 
253 
354 
381 
Operating Segments [Member] |
Beef [Member]
 
 
 
 
 
 
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Sales
 
 
 
 
 
 
 
 
14,400 
13,755 
13,549 
Operating Income (Loss)
 
 
 
 
 
 
 
 
296 
218 
468 
Depreciation
 
 
 
 
 
 
 
 
87 
86 
84 
Total Assets
2,798 
 
 
 
2,634 
 
 
 
2,798 
2,634 
2,610 
Additions to property, plant and equipment
 
 
 
 
 
 
 
 
105 
100 
88 
Operating Segments [Member] |
Pork [Member]
 
 
 
 
 
 
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Sales
 
 
 
 
 
 
 
 
5,408 
5,510 
5,460 
Operating Income (Loss)
 
 
 
 
 
 
 
 
332 
417 
560 
Depreciation
 
 
 
 
 
 
 
 
30 
30 
28 
Total Assets
931 
 
 
 
895 
 
 
 
931 
895 
960 
Additions to property, plant and equipment
 
 
 
 
 
 
 
 
22 
32 
27 
Operating Segments [Member] |
Prepared Foods [Member]
 
 
 
 
 
 
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Sales
 
 
 
 
 
 
 
 
3,322 
3,237 
3,215 
Operating Income (Loss)
 
 
 
 
 
 
 
 
101 
181 
117 
Depreciation
 
 
 
 
 
 
 
 
61 
54 
58 
Total Assets
1,176 
 
 
 
960 
 
 
 
1,176 
960 
943 
Additions to property, plant and equipment
 
 
 
 
 
 
 
 
87 
99 
58 
Operating Segments [Member] |
International [Member]
 
 
 
 
 
 
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Sales
 
 
 
 
 
 
 
 
1,324 
1,104 
978 
Operating Income (Loss)
 
 
 
 
 
 
 
 
(37)
(70)
(21)
Depreciation
 
 
 
 
 
 
 
 
40 
40 
33 
Total Assets
876 
 
 
 
968 
 
 
 
876 
968 
819 
Additions to property, plant and equipment
 
 
 
 
 
 
 
 
58 
97 
83 
Segment Reconciling Items [Member]
 
 
 
 
 
 
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Sales
 
 
 
 
 
 
 
 
46 
167 
127 
Operating Income (Loss)
 
 
 
 
 
 
 
 
0 
(14)
(24)
Depreciation
 
 
 
 
 
 
 
 
5 
5 
4 
Total Assets
1,452 
 
 
 
1,505 
 
 
 
1,452 
1,505 
1,146 
Additions to property, plant and equipment
 
 
 
 
 
 
 
 
33 
8 
6 
Intersegment Elimination [Member]
 
 
 
 
 
 
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Sales
 
 
 
 
 
 
 
 
(1,114)
(988)
(1,107)
Intersegment Elimination [Member] |
Chicken [Member]
 
 
 
 
 
 
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Sales
 
 
 
 
 
 
 
 
16 
6 
5 
Intersegment Elimination [Member] |
Beef [Member]
 
 
 
 
 
 
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Sales
 
 
 
 
 
 
 
 
226 
211 
286 
Intersegment Elimination [Member] |
Pork [Member]
 
 
 
 
 
 
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Sales
 
 
 
 
 
 
 
 
$ 872 
$ 771 
$ 816 
Segment Reporting (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 12 Months Ended
Sep. 28, 2013
Jun. 29, 2013
Mar. 30, 2013
Dec. 29, 2012
Sep. 29, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2011
Sep. 28, 2013
Segments
Sep. 29, 2012
Oct. 1, 2011
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Number of segments
 
 
 
 
 
 
 
 
5 
 
 
Sales
$ 8,894 
$ 8,731 
$ 8,383 
$ 8,366 
$ 8,315 
$ 8,261 
$ 8,221 
$ 8,258 
$ 34,374 
$ 33,055 
$ 32,032 
United States [Member]
 
 
 
 
 
 
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Long-lived assets
6,100 
 
 
 
5,900 
 
 
 
6,100 
5,900 
 
Other than the United States [Member]
 
 
 
 
 
 
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Long-lived assets
485 
 
 
 
564 
 
 
 
485 
564 
 
Customer Concentration Risk [Member] |
Sales Revenue, Goods, Net [Member] |
Wal-Mart Stores, Inc. [Member]
 
 
 
 
 
 
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Concentration, Percentage
 
 
 
 
 
 
 
 
13.00% 
13.80% 
13.30% 
Geographic Concentration Risk [Member] |
Sales Revenue, Goods, Net [Member] |
United States [Member]
 
 
 
 
 
 
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Concentration, Percentage
 
 
 
 
 
 
 
 
96.00% 
95.00% 
96.00% 
Export sales [Member] |
United States [Member]
 
 
 
 
 
 
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Sales
 
 
 
 
 
 
 
 
4,200 
4,000 
4,100 
Intersegment Sales [Member]
 
 
 
 
 
 
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Sales
 
 
 
 
 
 
 
 
(1,114)
(988)
(1,107)
Intersegment Sales [Member] |
Chicken [Member]
 
 
 
 
 
 
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Sales
 
 
 
 
 
 
 
 
16 
6 
5 
Intersegment Sales [Member] |
Beef [Member]
 
 
 
 
 
 
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Sales
 
 
 
 
 
 
 
 
226 
211 
286 
Intersegment Sales [Member] |
Pork [Member]
 
 
 
 
 
 
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Sales
 
 
 
 
 
 
 
 
$ 872 
$ 771 
$ 816 
Maximum [Member] |
Geographic Concentration Risk [Member] |
Sales Revenue, Goods, Net [Member] |
Other than the United States [Member]
 
 
 
 
 
 
 
 
 
 
 
Segment Reporting Information [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Concentration, Percentage
 
 
 
 
 
 
 
 
10.00% 
10.00% 
10.00% 
Supplemental Cash Flow Information (Cash Payments For Interest And Income Taxes) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Sep. 28, 2013
Sep. 29, 2012
Oct. 1, 2011
Supplemental Cash Flow Information [Abstract]
 
 
 
Interest, net of amounts capitalized
$ 114 
$ 274 
$ 174 
Income taxes, net of refunds
$ 310 
$ 187 
$ 311 
Commitments (Minimum Lease Commitments Under Non-Cancelable Leases) (Details) (USD $)
In Millions, unless otherwise specified
Sep. 28, 2013
Commitments and Contingencies Disclosure [Abstract]
 
2014
$ 97 
2015
69 
2016
46 
2017
27 
2018
16 
2019 and beyond
78 
Total
$ 333 
Commitments (Future Purchase Commitments) (Details) (USD $)
In Millions, unless otherwise specified
Sep. 28, 2013
Commitments and Contingencies Disclosure [Abstract]
 
2014
$ 1,482 
2015
54 
2016
48 
2017
33 
2018
24 
2019 and beyond
74 
Total
$ 1,715 
Commitments (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Sep. 28, 2013
Sep. 29, 2012
Oct. 1, 2011
Commitments and Contingencies Disclosure [Abstract]
 
 
 
Operating Leases, Rent Expense
$ 200 
$ 193 
$ 183 
Lease, Maximum Initial Term
7 years 
 
 
Guarantor Obligations [Line Items]
 
 
 
Potential maximum obligation under cash flow assistance program
340 
 
 
Total receivables under cash flow assistance program
44 
25 
 
Estimated uncollectible receivables under cash flow assistance program
15 
10 
 
Guarantee of Indebtedness of Others [Member]
 
 
 
Guarantor Obligations [Line Items]
 
 
 
Guarantor Obligations, Maximum Exposure, Period
10 years 
 
 
Maximum potential amount
64 
 
 
Residual Value Guarantees [Member]
 
 
 
Guarantor Obligations [Line Items]
 
 
 
Maximum potential amount
58 
 
 
Guarantor Obligations, Maximum Exposure, Remaining Lease Period
7 years 
 
 
Amount recoverable through various recourse provisions
$ 52 
 
 
Contingencies (Details) (USD $)
0 Months Ended 1 Months Ended 0 Months Ended 1 Months Ended 1 Months Ended 1 Months Ended
Oct. 20, 2010
Tyson Fresh Meats Inc [Member]
Claims
Mar. 17, 2011
Garcia Case [Member]
Sep. 26, 2011
Bouaphakeo Case [Member]
Oct. 31, 2012
Bouaphakeo Case [Member]
May 31, 2013
Acosta Case [Member]
Sep. 28, 2013
Carter Case [Member]
Oct. 20, 2010
Tyson Prepared Foods Plant [Member]
Plantiffs
Claims
Jun. 30, 2005
Attorney General and the Secretary of the Environment of the State of Oklahoma [Member]
acre
Jun. 30, 2005
Poultry Integrators [Member]
Attorney General and the Secretary of the Environment of the State of Oklahoma [Member]
Plantiffs
Jun. 30, 2005
Subsidiaries [Member]
Attorney General and the Secretary of the Environment of the State of Oklahoma [Member]
Subsidiary
Oct. 26, 2013
Gomez Case [Member]
Loss Contingencies [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Number of cases filed
11 
 
 
 
 
 
1 
 
 
 
 
Damages awarded
 
$ 503,011 
$ 5,784,758 
 
 
 
 
 
 
 
 
Filed application for attorneys' fees and expenses
 
3,609,723 
 
2,692,145 
 
 
 
 
 
 
 
Awarded unpaid overtime wages
 
 
 
 
5,733,943 
 
 
 
 
 
 
Updated unpaid overtime wages
 
 
 
 
6,258,492 
 
 
 
 
 
 
Unpaid overtime wages, damages and pentalties awarded
 
 
 
 
 
 
 
 
 
 
4,960,787 
Litigation Settlement, Amount
 
 
 
 
 
950,000 
 
 
 
 
 
Number of plaintiffs
 
 
 
 
 
 
6 
 
 
 
 
Number of defendants to the lawsuit
 
 
 
 
 
 
 
 
6 
3 
 
Area of land encompassed, acres
 
 
 
 
 
 
 
1,000,000 
 
 
 
Loss contingency, damages sought
 
 
 
 
 
 
 
$ 800,000,000 
 
 
 
Quarterly Financial Data (Unaudited) (Schedule Of Quarterly Financial Information) (Details) (USD $)
In Millions, except Per Share data, unless otherwise specified
3 Months Ended 12 Months Ended
Sep. 28, 2013
Jun. 29, 2013
Mar. 30, 2013
Dec. 29, 2012
Sep. 29, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2011
Sep. 28, 2013
Sep. 29, 2012
Oct. 1, 2011
Sales
$ 8,894 
$ 8,731 
$ 8,383 
$ 8,366 
$ 8,315 
$ 8,261 
$ 8,221 
$ 8,258 
$ 34,374 
$ 33,055 
$ 32,032 
Gross profit
669 
682 
468 
539 
590 
566 
537 
497 
2,358 
2,190 
2,195 
Operating Income
416 
419 
236 
304 
354 
342 
306 
284 
1,375 
1,286 
1,289 
Net income
259 
245 
106 
168 
181 
73 
166 
156 
778 
576 
733 
Net Income from Continuing Operations Attributable to Tyson
261 
253 
157 
177 
207 
82 
170 
162 
848 
621 
752 
Net Loss from Discontinued Operation Attributable to Tyson
0 
(4)
(62)
(4)
(22)
(6)
(4)
(6)
(70)
(38)
(2)
Net income attributable to Tyson
$ 261 
$ 249 
$ 95 
$ 173 
$ 185 
$ 76 
$ 166 
$ 156 
$ 778 
$ 583 
$ 750 
Net Income Per Share from Continuing Operations Attributable to Tyson - Diluted
$ 0.70 
$ 0.69 
$ 0.43 
$ 0.49 
$ 0.57 
$ 0.22 
$ 0.46 
$ 0.43 
$ 2.31 
$ 1.68 
$ 1.98 
Net Loss Per Share from Discontinued Operation Attributable to Tyson - Diluted
$ 0.00 
$ (0.01)
$ (0.17)
$ (0.01)
$ (0.06)
$ (0.01)
$ (0.02)
$ (0.01)
$ (0.19)
$ (0.10)
$ (0.01)
Diluted (USD per share)
$ 0.70 
$ 0.68 
$ 0.26 
$ 0.48 
$ 0.51 
$ 0.21 
$ 0.44 
$ 0.42 
$ 2.12 
$ 1.58 
$ 1.97 
Class A [Member]
 
 
 
 
 
 
 
 
 
 
 
Net Income Per Share from Continuing Operations Attributable to Tyson - Basic
$ 0.77 
$ 0.73 
$ 0.45 
$ 0.51 
$ 0.59 
$ 0.23 
$ 0.48 
$ 0.45 
$ 2.46 
$ 1.75 
$ 2.05 
Net Loss Per Share from Discontinued Operation Attributable to Tyson - Basic
$ 0.00 
$ (0.01)
$ (0.18)
$ (0.01)
$ (0.06)
$ (0.02)
$ (0.01)
$ (0.02)
$ (0.20)
$ (0.11)
$ (0.01)
Basic (USD per share)
$ 0.77 
$ 0.72 
$ 0.27 
$ 0.50 
$ 0.53 
$ 0.21 
$ 0.47 
$ 0.43 
$ 2.26 
$ 1.64 
$ 2.04 
Class B [Member]
 
 
 
 
 
 
 
 
 
 
 
Net Income Per Share from Continuing Operations Attributable to Tyson - Basic
$ 0.70 
$ 0.66 
$ 0.40 
$ 0.46 
$ 0.53 
$ 0.20 
$ 0.43 
$ 0.41 
$ 2.22 
$ 1.57 
$ 1.84 
Net Loss Per Share from Discontinued Operation Attributable to Tyson - Basic
$ 0.00 
$ (0.02)
$ (0.15)
$ (0.01)
$ (0.05)
$ (0.01)
$ (0.01)
$ (0.02)
$ (0.18)
$ (0.09)
$ 0.00 
Basic (USD per share)
$ 0.70 
$ 0.64 
$ 0.25 
$ 0.45 
$ 0.48 
$ 0.19 
$ 0.42 
$ 0.39 
$ 2.04 
$ 1.48 
$ 1.84 
Quarterly Financial Data (Unaudited) (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended 3 Months Ended 12 Months Ended 3 Months Ended 12 Months Ended
Sep. 28, 2013
Sep. 29, 2012
Oct. 1, 2011
Jun. 30, 2012
10.50% Senior Notes Due March 2014 (2014 Notes) [Member]
Mar. 30, 2013
Weifang Operation [Member]
Sep. 29, 2012
Weifang Operation [Member]
Sep. 28, 2013
Weifang Operation [Member]
Mar. 30, 2013
Other Income/Expense [Member]
Sep. 28, 2013
Other Income/Expense [Member]
Quarterly Financial Data [Line Items]
 
 
 
 
 
 
 
 
 
Recognized currency translation adjustment gain
 
 
 
 
 
 
 
$ 19 
$ 19 
Loss on early extinguishment of debt
0 
167 
0 
167 
 
 
 
 
 
Asset Impairment Charges
$ 74 
$ 34 
$ 18 
 
$ 56 
$ 15 
$ 56 
 
 
Condensed Consolidating Financial Statements (Condensed Consolidating Statement Of Income) (Details) (USD $)
In Millions, unless otherwise specified
3 Months Ended 12 Months Ended
Sep. 28, 2013
Jun. 29, 2013
Mar. 30, 2013
Dec. 29, 2012
Sep. 29, 2012
Jun. 30, 2012
Mar. 31, 2012
Dec. 31, 2011
Sep. 28, 2013
Sep. 29, 2012
Oct. 1, 2011
Condensed Financial Statements, Captions [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Sales
$ 8,894 
$ 8,731 
$ 8,383 
$ 8,366 
$ 8,315 
$ 8,261 
$ 8,221 
$ 8,258 
$ 34,374 
$ 33,055 
$ 32,032 
Cost of Sales
 
 
 
 
 
 
 
 
32,016 
30,865 
29,837 
Gross Profit
669 
682 
468 
539 
590 
566 
537 
497 
2,358 
2,190 
2,195 
Selling, general and administrative
 
 
 
 
 
 
 
 
983 
904 
906 
Operating Income
416 
419 
236 
304 
354 
342 
306 
284 
1,375 
1,286 
1,289 
Other (Income) Expense:
 
 
 
 
 
 
 
 
 
 
 
Interest expense, net
 
 
 
 
 
 
 
 
138 
344 
231 
Other, net
 
 
 
 
 
 
 
 
(20)
(23)
(20)
Equity in net earnings of subsidiaries
 
 
 
 
 
 
 
 
0 
0 
0 
Total Other (Income) Expense
 
 
 
 
 
 
 
 
118 
321 
211 
Income from Continuing Operations before Income Taxes
 
 
 
 
 
 
 
 
1,257 
965 
1,078 
Income Tax Expense (Benefit)
 
 
 
 
 
 
 
 
409 
351 
340 
Income from Continuing Operations
 
 
 
 
 
 
 
 
848 
614 
738 
Loss from Discontinued Operation, Net of Tax
 
 
 
 
 
 
 
 
(70)
(38)
(5)
Net Income
259 
245 
106 
168 
181 
73 
166 
156 
778 
576 
733 
Less: Net Loss Attributable to Noncontrolling Interest
 
 
 
 
 
 
 
 
0 
(7)
(17)
Net Income Attributable to Tyson
261 
249 
95 
173 
185 
76 
166 
156 
778 
583 
750 
Comprehensive Income (Loss)
 
 
 
 
 
 
 
 
733 
592 
654 
Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interests
 
 
 
 
 
 
 
 
0 
(7)
(17)
Comprehensive Income Attributable to Tyson
 
 
 
 
 
 
 
 
733 
599 
671 
TFI Parent [Member]
 
 
 
 
 
 
 
 
 
 
 
Condensed Financial Statements, Captions [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Sales
 
 
 
 
 
 
 
 
431 
352 
157 
Cost of Sales
 
 
 
 
 
 
 
 
40 
(4)
29 
Gross Profit
 
 
 
 
 
 
 
 
391 
356 
128 
Selling, general and administrative
 
 
 
 
 
 
 
 
68 
59 
52 
Operating Income
 
 
 
 
 
 
 
 
323 
297 
76 
Other (Income) Expense:
 
 
 
 
 
 
 
 
 
 
 
Interest expense, net
 
 
 
 
 
 
 
 
36 
49 
(26)
Other, net
 
 
 
 
 
 
 
 
4 
1 
(9)
Equity in net earnings of subsidiaries
 
 
 
 
 
 
 
 
(582)
(427)
(673)
Total Other (Income) Expense
 
 
 
 
 
 
 
 
(542)
(377)
(708)
Income from Continuing Operations before Income Taxes
 
 
 
 
 
 
 
 
865 
674 
784 
Income Tax Expense (Benefit)
 
 
 
 
 
 
 
 
87 
91 
34 
Income from Continuing Operations
 
 
 
 
 
 
 
 
778 
583 
750 
Loss from Discontinued Operation, Net of Tax
 
 
 
 
 
 
 
 
0 
0 
0 
Net Income
 
 
 
 
 
 
 
 
778 
583 
750 
Less: Net Loss Attributable to Noncontrolling Interest
 
 
 
 
 
 
 
 
0 
0 
0 
Net Income Attributable to Tyson
 
 
 
 
 
 
 
 
778 
583 
750 
Comprehensive Income (Loss)
 
 
 
 
 
 
 
 
733 
599 
671 
Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interests
 
 
 
 
 
 
 
 
0 
0 
0 
Comprehensive Income Attributable to Tyson
 
 
 
 
 
 
 
 
733 
599 
671 
TFM Parent, Guarantors [Member]
 
 
 
 
 
 
 
 
 
 
 
Condensed Financial Statements, Captions [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Sales
 
 
 
 
 
 
 
 
19,243 
18,832 
18,636 
Cost of Sales
 
 
 
 
 
 
 
 
18,464 
18,088 
17,461 
Gross Profit
 
 
 
 
 
 
 
 
779 
744 
1,175 
Selling, general and administrative
 
 
 
 
 
 
 
 
201 
205 
215 
Operating Income
 
 
 
 
 
 
 
 
578 
539 
960 
Other (Income) Expense:
 
 
 
 
 
 
 
 
 
 
 
Interest expense, net
 
 
 
 
 
 
 
 
62 
143 
148 
Other, net
 
 
 
 
 
 
 
 
(1)
0 
0 
Equity in net earnings of subsidiaries
 
 
 
 
 
 
 
 
(40)
(43)
(115)
Total Other (Income) Expense
 
 
 
 
 
 
 
 
21 
100 
33 
Income from Continuing Operations before Income Taxes
 
 
 
 
 
 
 
 
557 
439 
927 
Income Tax Expense (Benefit)
 
 
 
 
 
 
 
 
172 
130 
272 
Income from Continuing Operations
 
 
 
 
 
 
 
 
385 
309 
655 
Loss from Discontinued Operation, Net of Tax
 
 
 
 
 
 
 
 
0 
0 
0 
Net Income
 
 
 
 
 
 
 
 
385 
309 
655 
Less: Net Loss Attributable to Noncontrolling Interest
 
 
 
 
 
 
 
 
0 
0 
0 
Net Income Attributable to Tyson
 
 
 
 
 
 
 
 
385 
309 
655 
Comprehensive Income (Loss)
 
 
 
 
 
 
 
 
380 
324 
606 
Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interests
 
 
 
 
 
 
 
 
0 
0 
0 
Comprehensive Income Attributable to Tyson
 
 
 
 
 
 
 
 
380 
324 
606 
Non-Guarantors [Member]
 
 
 
 
 
 
 
 
 
 
 
Condensed Financial Statements, Captions [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Sales
 
 
 
 
 
 
 
 
16,120 
15,152 
14,466 
Cost of Sales
 
 
 
 
 
 
 
 
14,932 
14,061 
13,574 
Gross Profit
 
 
 
 
 
 
 
 
1,188 
1,091 
892 
Selling, general and administrative
 
 
 
 
 
 
 
 
714 
641 
639 
Operating Income
 
 
 
 
 
 
 
 
474 
450 
253 
Other (Income) Expense:
 
 
 
 
 
 
 
 
 
 
 
Interest expense, net
 
 
 
 
 
 
 
 
40 
152 
109 
Other, net
 
 
 
 
 
 
 
 
(23)
(24)
(11)
Equity in net earnings of subsidiaries
 
 
 
 
 
 
 
 
0 
0 
0 
Total Other (Income) Expense
 
 
 
 
 
 
 
 
17 
128 
98 
Income from Continuing Operations before Income Taxes
 
 
 
 
 
 
 
 
457 
322 
155 
Income Tax Expense (Benefit)
 
 
 
 
 
 
 
 
150 
130 
34 
Income from Continuing Operations
 
 
 
 
 
 
 
 
307 
192 
121 
Loss from Discontinued Operation, Net of Tax
 
 
 
 
 
 
 
 
(70)
(38)
(5)
Net Income
 
 
 
 
 
 
 
 
237 
154 
116 
Less: Net Loss Attributable to Noncontrolling Interest
 
 
 
 
 
 
 
 
0 
(7)
(17)
Net Income Attributable to Tyson
 
 
 
 
 
 
 
 
237 
161 
133 
Comprehensive Income (Loss)
 
 
 
 
 
 
 
 
212 
166 
77 
Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interests
 
 
 
 
 
 
 
 
0 
(7)
(17)
Comprehensive Income Attributable to Tyson
 
 
 
 
 
 
 
 
212 
173 
94 
Eliminations [Member]
 
 
 
 
 
 
 
 
 
 
 
Condensed Financial Statements, Captions [Line Items]
 
 
 
 
 
 
 
 
 
 
 
Sales
 
 
 
 
 
 
 
 
(1,420)
(1,281)
(1,227)
Cost of Sales
 
 
 
 
 
 
 
 
(1,420)
(1,280)
(1,227)
Gross Profit
 
 
 
 
 
 
 
 
0 
(1)
0 
Selling, general and administrative
 
 
 
 
 
 
 
 
0 
(1)
0 
Operating Income
 
 
 
 
 
 
 
 
0 
0 
0 
Other (Income) Expense:
 
 
 
 
 
 
 
 
 
 
 
Interest expense, net
 
 
 
 
 
 
 
 
0 
0 
0 
Other, net
 
 
 
 
 
 
 
 
0 
0 
0 
Equity in net earnings of subsidiaries
 
 
 
 
 
 
 
 
622 
470 
788 
Total Other (Income) Expense
 
 
 
 
 
 
 
 
622 
470 
788 
Income from Continuing Operations before Income Taxes
 
 
 
 
 
 
 
 
(622)
(470)
(788)
Income Tax Expense (Benefit)
 
 
 
 
 
 
 
 
0 
0 
0 
Income from Continuing Operations
 
 
 
 
 
 
 
 
(622)
(470)
(788)
Loss from Discontinued Operation, Net of Tax
 
 
 
 
 
 
 
 
0 
0 
0 
Net Income
 
 
 
 
 
 
 
 
(622)
(470)
(788)
Less: Net Loss Attributable to Noncontrolling Interest
 
 
 
 
 
 
 
 
0 
0 
0 
Net Income Attributable to Tyson
 
 
 
 
 
 
 
 
(622)
(470)
(788)
Comprehensive Income (Loss)
 
 
 
 
 
 
 
 
(592)
(497)
(700)
Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interests
 
 
 
 
 
 
 
 
0 
0 
0 
Comprehensive Income Attributable to Tyson
 
 
 
 
 
 
 
 
$ (592)
$ (497)
$ (700)
Condensed Consolidating Financial Statements (Condensed Consolidating Balance Sheet) (Details) (USD $)
In Millions, unless otherwise specified
Sep. 28, 2013
Sep. 29, 2012
Oct. 1, 2011
Oct. 2, 2010
Assets
 
 
 
 
Cash and cash equivalents
$ 1,145 
$ 1,071 
$ 716 
$ 978 
Accounts receivable, net
1,497 
1,378 
 
 
Inventories
2,817 
2,809 
 
 
Other current assets
145 
145 
 
 
Total Current Assets
5,604 
5,403 
 
 
Net Property, Plant and Equipment
4,053 
4,022 
 
 
Goodwill
1,902 
1,891 
1,892 
 
Intangible Assets
138 
129 
 
 
Other Assets
480 
451 
 
 
Investment in Subsidiaries
0 
0 
 
 
Total Assets
12,177 
11,896 
11,071 
 
Liabilities and Shareholders' Equity
 
 
 
 
Current debt
513 
515 
 
 
Accounts payable
1,359 
1,372 
 
 
Other current liabilities
1,138 
943 
 
 
Total Current Liabilities
3,010 
2,830 
 
 
Long-Term Debt
1,895 
1,917 
 
 
Deferred Income Taxes
479 
558 
 
 
Other Liabilities
560 
549 
 
 
Total Tyson Shareholders' Equity
6,201 
6,012 
 
 
Noncontrolling Interests
32 
30 
 
 
Total Shareholders' Equity
6,233 
6,042 
5,685 
 
Total Liabilities and Shareholders' Equity
12,177 
11,896 
 
 
TFI Parent [Member]
 
 
 
 
Assets
 
 
 
 
Cash and cash equivalents
0 
1 
1 
2 
Accounts receivable, net
0 
1 
 
 
Inventories
0 
0 
 
 
Other current assets
351 
139 
 
 
Total Current Assets
351 
141 
 
 
Net Property, Plant and Equipment
32 
31 
 
 
Goodwill
0 
0 
 
 
Intangible Assets
0 
0 
 
 
Other Assets
895 
1,257 
 
 
Investment in Subsidiaries
11,975 
11,849 
 
 
Total Assets
13,253 
13,278 
 
 
Liabilities and Shareholders' Equity
 
 
 
 
Current debt
457 
439 
 
 
Accounts payable
27 
10 
 
 
Other current liabilities
4,625 
4,887 
 
 
Total Current Liabilities
5,109 
5,336 
 
 
Long-Term Debt
1,770 
1,774 
 
 
Deferred Income Taxes
24 
0 
 
 
Other Liabilities
149 
156 
 
 
Total Tyson Shareholders' Equity
6,201 
6,012 
 
 
Noncontrolling Interests
0 
0 
 
 
Total Shareholders' Equity
6,201 
6,012 
 
 
Total Liabilities and Shareholders' Equity
13,253 
13,278 
 
 
TFM Parent, Guarantors [Member]
 
 
 
 
Assets
 
 
 
 
Cash and cash equivalents
21 
9 
1 
2 
Accounts receivable, net
571 
499 
 
 
Inventories
1,039 
950 
 
 
Other current assets
88 
100 
 
 
Total Current Assets
1,719 
1,558 
 
 
Net Property, Plant and Equipment
891 
873 
 
 
Goodwill
881 
881 
 
 
Intangible Assets
21 
26 
 
 
Other Assets
162 
151 
 
 
Investment in Subsidiaries
2,035 
2,005 
 
 
Total Assets
5,709 
5,494 
 
 
Liabilities and Shareholders' Equity
 
 
 
 
Current debt
132 
0 
 
 
Accounts payable
575 
558 
 
 
Other current liabilities
200 
144 
 
 
Total Current Liabilities
907 
702 
 
 
Long-Term Debt
679 
809 
 
 
Deferred Income Taxes
93 
135 
 
 
Other Liabilities
155 
146 
 
 
Total Tyson Shareholders' Equity
3,875 
3,702 
 
 
Noncontrolling Interests
0 
0 
 
 
Total Shareholders' Equity
3,875 
3,702 
 
 
Total Liabilities and Shareholders' Equity
5,709 
5,494 
 
 
Non-Guarantors [Member]
 
 
 
 
Assets
 
 
 
 
Cash and cash equivalents
1,124 
1,061 
714 
974 
Accounts receivable, net
926 
878 
 
 
Inventories
1,778 
1,859 
 
 
Other current assets
117 
90 
 
 
Total Current Assets
3,945 
3,888 
 
 
Net Property, Plant and Equipment
3,130 
3,118 
 
 
Goodwill
1,021 
1,010 
 
 
Intangible Assets
117 
103 
 
 
Other Assets
244 
251 
 
 
Investment in Subsidiaries
0 
0 
 
 
Total Assets
8,457 
8,370 
 
 
Liabilities and Shareholders' Equity
 
 
 
 
Current debt
251 
167 
 
 
Accounts payable
757 
804 
 
 
Other current liabilities
901 
766 
 
 
Total Current Liabilities
1,909 
1,737 
 
 
Long-Term Debt
241 
486 
 
 
Deferred Income Taxes
362 
432 
 
 
Other Liabilities
282 
294 
 
 
Total Tyson Shareholders' Equity
5,631 
5,391 
 
 
Noncontrolling Interests
32 
30 
 
 
Total Shareholders' Equity
5,663 
5,421 
 
 
Total Liabilities and Shareholders' Equity
8,457 
8,370 
 
 
Eliminations [Member]
 
 
 
 
Assets
 
 
 
 
Cash and cash equivalents
0 
0 
0 
0 
Accounts receivable, net
0 
0 
 
 
Inventories
0 
0 
 
 
Other current assets
(411)
(184)
 
 
Total Current Assets
(411)
(184)
 
 
Net Property, Plant and Equipment
0 
0 
 
 
Goodwill
0 
0 
 
 
Intangible Assets
0 
0 
 
 
Other Assets
(821)
(1,208)
 
 
Investment in Subsidiaries
(14,010)
(13,854)
 
 
Total Assets
(15,242)
(15,246)
 
 
Liabilities and Shareholders' Equity
 
 
 
 
Current debt
(327)
(91)
 
 
Accounts payable
0 
0 
 
 
Other current liabilities
(4,588)
(4,854)
 
 
Total Current Liabilities
(4,915)
(4,945)
 
 
Long-Term Debt
(795)
(1,152)
 
 
Deferred Income Taxes
0 
(9)
 
 
Other Liabilities
(26)
(47)
 
 
Total Tyson Shareholders' Equity
(9,506)
(9,093)
 
 
Noncontrolling Interests
0 
0 
 
 
Total Shareholders' Equity
(9,506)
(9,093)
 
 
Total Liabilities and Shareholders' Equity
$ (15,242)
$ (15,246)
 
 
Condensed Consolidating Financial Statements (Condensed Consolidating Statement Of Cash Flows) (Details) (USD $)
In Millions, unless otherwise specified
12 Months Ended
Sep. 28, 2013
Sep. 29, 2012
Oct. 1, 2011
Condensed Financial Statements, Captions [Line Items]
 
 
 
Cash Provided by (Used for) Operating Activities
$ 1,314 
$ 1,187 
$ 1,046 
Cash Flows From Investing Activities:
 
 
 
Additions to property, plant and equipment
(558)
(690)
(643)
(Purchases of)/ Proceeds from marketable securities, net
(18)
(11)
(80)
Proceeds from notes receivable
0 
0 
51 
Acquisitions, net of cash acquired
(106)
0 
0 
Other, net
39 
41 
28 
Cash Used for Investing Activities
(643)
(660)
(644)
Cash Flows From Financing Activities:
 
 
 
Net change in debt
(23)
123 
(385)
Purchase of redeemable noncontrolling interest
0 
0 
(66)
Purchases of Tyson Class A common stock
(614.00)
(264.00)
(207.00)
Dividends
(104)
(57)
(59)
Stock options exercised
123 
34 
51 
Other, net
18 
(7)
8 
Net change in intercompany balances
0 
0 
0 
Cash Used for Financing Activities
(600)
(171)
(658)
Effect of Exchange Rate Change on Cash
3 
(1)
(6)
Increase (Decrease) in Cash and Cash Equivalents
74 
355 
(262)
Cash and Cash Equivalents at Beginning of Year
1,071 
716 
978 
Cash and Cash Equivalents at End of Year
1,145 
1,071 
716 
TFI Parent [Member]
 
 
 
Condensed Financial Statements, Captions [Line Items]
 
 
 
Cash Provided by (Used for) Operating Activities
294 
312 
31 
Cash Flows From Investing Activities:
 
 
 
Additions to property, plant and equipment
(4)
(1)
(1)
(Purchases of)/ Proceeds from marketable securities, net
0 
0 
0 
Proceeds from notes receivable
0 
0 
0 
Acquisitions, net of cash acquired
0 
0 
0 
Other, net
0 
1 
23 
Cash Used for Investing Activities
(4)
0 
22 
Cash Flows From Financing Activities:
 
 
 
Net change in debt
5 
107 
(391)
Purchase of redeemable noncontrolling interest
0 
0 
0 
Purchases of Tyson Class A common stock
(614.00)
(264.00)
(207.00)
Dividends
(104)
(57)
(59)
Stock options exercised
123 
34 
51 
Other, net
18 
(8)
(2)
Net change in intercompany balances
281 
(124)
554 
Cash Used for Financing Activities
(291)
(312)
(54)
Effect of Exchange Rate Change on Cash
0 
0 
0 
Increase (Decrease) in Cash and Cash Equivalents
(1)
0 
(1)
Cash and Cash Equivalents at Beginning of Year
1 
1 
2 
Cash and Cash Equivalents at End of Year
0 
1 
1 
TFM Parent, Guarantors [Member]
 
 
 
Condensed Financial Statements, Captions [Line Items]
 
 
 
Cash Provided by (Used for) Operating Activities
337 
438 
564 
Cash Flows From Investing Activities:
 
 
 
Additions to property, plant and equipment
(113)
(104)
(107)
(Purchases of)/ Proceeds from marketable securities, net
(13)
(7)
(57)
Proceeds from notes receivable
0 
0 
0 
Acquisitions, net of cash acquired
0 
0 
0 
Other, net
3 
5 
0 
Cash Used for Investing Activities
(123)
(106)
(164)
Cash Flows From Financing Activities:
 
 
 
Net change in debt
0 
0 
(6)
Purchase of redeemable noncontrolling interest
0 
0 
0 
Purchases of Tyson Class A common stock
0 
0 
0 
Dividends
0 
0 
0 
Stock options exercised
0 
0 
0 
Other, net
0 
0 
0 
Net change in intercompany balances
(202)
(324)
(395)
Cash Used for Financing Activities
(202)
(324)
(401)
Effect of Exchange Rate Change on Cash
0 
0 
0 
Increase (Decrease) in Cash and Cash Equivalents
12 
8 
(1)
Cash and Cash Equivalents at Beginning of Year
9 
1 
2 
Cash and Cash Equivalents at End of Year
21 
9 
1 
Non-Guarantors [Member]
 
 
 
Condensed Financial Statements, Captions [Line Items]
 
 
 
Cash Provided by (Used for) Operating Activities
696 
447 
471 
Cash Flows From Investing Activities:
 
 
 
Additions to property, plant and equipment
(441)
(585)
(535)
(Purchases of)/ Proceeds from marketable securities, net
(5)
(4)
(23)
Proceeds from notes receivable
0 
0 
51 
Acquisitions, net of cash acquired
(106)
0 
0 
Other, net
36 
35 
5 
Cash Used for Investing Activities
(516)
(554)
(502)
Cash Flows From Financing Activities:
 
 
 
Net change in debt
(28)
16 
12 
Purchase of redeemable noncontrolling interest
0 
0 
(66)
Purchases of Tyson Class A common stock
0 
0 
0 
Dividends
(13)
(10)
(20)
Stock options exercised
0 
0 
0 
Other, net
0 
1 
10 
Net change in intercompany balances
(79)
448 
(159)
Cash Used for Financing Activities
(120)
455 
(223)
Effect of Exchange Rate Change on Cash
3 
(1)
(6)
Increase (Decrease) in Cash and Cash Equivalents
63 
347 
(260)
Cash and Cash Equivalents at Beginning of Year
1,061 
714 
974 
Cash and Cash Equivalents at End of Year
1,124 
1,061 
714 
Eliminations [Member]
 
 
 
Condensed Financial Statements, Captions [Line Items]
 
 
 
Cash Provided by (Used for) Operating Activities
(13)
(10)
(20)
Cash Flows From Investing Activities:
 
 
 
Additions to property, plant and equipment
0 
0 
0 
(Purchases of)/ Proceeds from marketable securities, net
0 
0 
0 
Proceeds from notes receivable
0 
0 
0 
Acquisitions, net of cash acquired
0 
0 
0 
Other, net
0 
0 
0 
Cash Used for Investing Activities
0 
0 
0 
Cash Flows From Financing Activities:
 
 
 
Net change in debt
0 
0 
0 
Purchase of redeemable noncontrolling interest
0 
0 
0 
Purchases of Tyson Class A common stock
0 
0 
0 
Dividends
13 
10 
20 
Stock options exercised
0 
0 
0 
Other, net
0 
0 
0 
Net change in intercompany balances
0 
0 
0 
Cash Used for Financing Activities
13 
10 
20 
Effect of Exchange Rate Change on Cash
0 
0 
0 
Increase (Decrease) in Cash and Cash Equivalents
0 
0 
0 
Cash and Cash Equivalents at Beginning of Year
0 
0 
0 
Cash and Cash Equivalents at End of Year
$ 0 
$ 0 
$ 0 
Condensed Consolidating Financial Statements (Narrative) (Details) (USD $)
In Billions, unless otherwise specified
Sep. 28, 2013
Debt Instrument [Line Items]
 
Amount available under credit facility
$ 1.0