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 | ||||||||