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| In millions, except per share items | Oct-30-22 | Oct-31-21 | Oct-25-20 | Oct-27-19 | Oct-28-18 | Oct-29-17 | Oct-30-16 | Oct-25-15 |
| | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K | 10-K |
| Revenues: |
| Refrigerated Foods | 6,717.0 | 6,361.4 | 5,292.1 | 5,227.1 | 5,118.5 | 4,767.7 | 4,658.5 | 4,385.4 |
| U.S. Retail | 7,780.3 | 7,283.8 | 6,411.7 | 4,947.4 | 5,113.0 | 5,492.8 | | |
| U.S. Foodservice | 3,879.6 | 3,239.4 | 2,489.6 | 2,943.4 | 2,825.0 | 2,611.2 | | |
| Grocery Products | 3,533.1 | 2,809.4 | 2,385.3 | 2,369.4 | 2,480.4 | 2,507.5 | 2,623.9 | 1,617.7 |
| Other | | | | | | | 2,240.8 | 3,260.8 |
| Total revenues | 12,458.8 | 11,386.2 | 9,608.5 | 9,497.3 | 9,545.7 | 9,167.5 | 9,523.2 | 9,263.9 |
| Revenue growth [+] | 9.4% | 18.5% | 1.2% | -0.5% | 4.1% | -3.7% | 2.8% | -0.6% |
| Refrigerated Foods | 5.6% | 20.2% | 1.2% | 2.1% | 7.4% | 2.3% | 6.2% | -6.0% |
| U.S. Retail | 6.8% | 13.6% | 29.6% | -3.2% | -6.9% | | | |
| U.S. Foodservice | 19.8% | 30.1% | -15.4% | 4.2% | 8.2% | | | |
| Grocery Products | 25.8% | 17.8% | 0.7% | -4.5% | -1.1% | -4.4% | 62.2% | 3.8% |
| Jennie-O Turkey Store | 8.1% | 13.0% | -0.4% | 0.4% | -1.8% | -21.1% | 5.5% | -2.9% |
| Cost of goods sold | 10,294.1 | 9,458.3 | 7,782.5 | 7,612.7 | 7,566.2 | 7,170.9 | 7,365.0 | 7,455.3 |
| Gross profit | 2,164.7 | 1,927.9 | 1,826.0 | 1,884.6 | 1,979.5 | 1,996.6 | 2,158.2 | 1,808.6 |
| Gross margin | 17.4% | 16.9% | 19.0% | 19.8% | 20.7% | 21.8% | 22.7% | 19.5% |
| Selling, general and administrative | 879.3 | 853.1 | 761.3 | 727.6 | 841.2 | 759.3 | 872.0 | 743.6 |
| Equity in earnings | 27.2 | 47.8 | 35.6 | 39.2 | 59.0 | 39.6 | 38.7 | 23.9 |
| Other operating expenses | -27.2 | -47.8 | -35.6 | -39.2 | -59.0 | -39.6 | -38.7 | -23.9 |
| EBITDA [+] | 1,575.4 | 1,351.0 | 1,306.0 | 1,361.5 | 1,359.1 | 1,407.9 | 1,456.9 | 1,222.3 |
| EBITDA growth | 16.6% | 3.4% | -4.1% | 0.2% | -3.5% | -3.4% | 19.2% | 15.1% |
| EBITDA margin | 12.6% | 11.9% | 13.6% | 14.3% | 14.2% | 15.4% | 15.3% | 13.2% |
| Depreciation | 243.5 | 210.9 | 191.5 | 153.6 | 149.2 | 122.6 | 123.6 | 125.3 |
| EBITA | 1,331.9 | 1,140.1 | 1,114.5 | 1,207.9 | 1,209.9 | 1,285.3 | 1,333.3 | 1,097.0 |
| EBITA margin | 10.7% | 10.0% | 11.6% | 12.7% | 12.7% | 14.0% | 14.0% | 11.8% |
| Amortization of intangibles | 19.3 | 17.5 | 14.3 | 11.6 | 12.7 | 8.4 | 8.4 | 8.1 |
| EBIT [+] | 1,312.6 | 1,122.6 | 1,100.2 | 1,196.3 | 1,197.2 | 1,276.9 | 1,324.9 | 1,088.9 |
| EBIT growth | 16.9% | 2.0% | -8.0% | -0.1% | -6.2% | -3.6% | 21.7% | 16.9% |
| EBIT margin | 10.5% | 9.9% | 11.5% | 12.6% | 12.5% | 13.9% | 13.9% | 11.8% |
| Non-recurring items [+] | | | | | 17.3 | 0.2 | 1.0 | 21.5 |
| Asset impairment | | | | | 17.3 | 0.2 | 1.0 | 21.5 |
| Interest expense, net [+] | 34.5 | -3.6 | -14.5 | 18.1 | 26.5 | 12.7 | 12.9 | 13.1 |
| Interest expense | 62.5 | 43.3 | 21.1 | 18.1 | 26.5 | 12.7 | 12.9 | 13.1 |
| Interest income | 28.0 | 46.9 | 35.6 | | | | | |
| Other income (expense), net | 0.0 | | | 31.5 | 27.8 | 14.6 | 6.2 | 2.9 |
| Pre-tax income | 1,278.1 | 1,126.2 | 1,114.7 | 1,209.7 | 1,181.3 | 1,278.6 | 1,317.2 | 1,057.1 |
| Income taxes | 277.9 | 217.0 | 206.4 | 230.6 | 168.7 | 431.5 | 426.7 | 369.9 |
| Tax rate | 21.7% | 19.3% | 18.5% | 19.1% | 14.3% | 33.7% | 32.4% | 35.0% |
| Minority interest | 0.2 | 0.3 | 0.3 | 0.3 | 0.4 | 0.4 | 0.5 | 1.2 |
| Net income | 1,000.0 | 908.8 | 908.1 | 978.8 | 1,012.1 | 846.7 | 890.1 | 686.1 |
| Net margin | 8.0% | 8.0% | 9.5% | 10.3% | 10.6% | 9.2% | 9.3% | 7.4% |
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| Basic EPS [+] | $1.84 | $1.68 | $1.69 | $1.83 | $1.91 | $1.60 | $1.68 | $1.30 |
| Growth | 9.3% | -0.5% | -7.8% | -4.0% | 19.0% | -4.7% | 29.4% | 13.7% |
| Diluted EPS [+] | $1.82 | $1.66 | $1.66 | $1.80 | $1.86 | $1.57 | $1.64 | $1.27 |
| Growth | 9.6% | -0.1% | -7.5% | -3.5% | 18.5% | -4.3% | 29.4% | 13.7% |
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| Dividends per share [+] | $1.04 | $0.98 | $0.93 | $0.84 | $0.75 | $0.68 | $0.58 | $0.50 |
| Growth | 6.1% | 5.4% | 10.7% | 12.0% | 10.3% | 17.2% | 16.0% | 25.0% |
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| Shares outstanding (basic) [+] | 544.9 | 541.1 | 538.0 | 534.6 | 530.7 | 528.4 | 529.3 | 528.1 |
| Growth | 0.7% | 0.6% | 0.6% | 0.7% | 0.5% | -0.2% | 0.2% | 0.1% |
| Shares outstanding (diluted) [+] | 549.6 | 547.6 | 546.6 | 545.2 | 543.9 | 539.1 | 542.5 | 541.0 |
| Growth | 0.4% | 0.2% | 0.2% | 0.3% | 0.9% | -0.6% | 0.3% | 0.1% |
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| EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges. |
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