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SEGMENT REPORTING
 6 Months Ended
Apr. 26, 2026
Segment Reporting [Abstract]  
SEGMENT REPORTING
NOTE Q - SEGMENT REPORTING

Segment Results: The Company develops, processes, and distributes a wide array of food products in a variety of markets. The Company reports its results in the following three segments: Retail, Foodservice, and International.

The Retail segment consists primarily of the processing, marketing, and sale of food products sold predominantly in retail channels, including grocery stores, mass merchandisers, club stores, natural food chains, drug, dollar and discount chains, and e-commerce providers in the U.S. This segment also includes the results from the Company’s equity method investments in MegaMex Foods, LLC and Joy Topco, L.P.

The Foodservice segment consists primarily of the processing, marketing, and sale of food products to distributors and operators across a wide range of providers of food away from home, including restaurants, hospitality, healthcare, K-12, college and universities, and convenience stores in the U.S.

The International segment processes, markets, and sells the Company's products through retail and foodservice channels internationally. This segment also includes the results from the Company’s international joint ventures, equity method investments, and royalty arrangements, as well as operations in China and Brazil.

The results of each segment are regularly provided to the Company's Interim Chief Executive Officer, who is the chief operating decision maker (CODM). The CODM primarily uses net sales and segment profit to compare results to the prior year, annual operating plan, and periodic forecasts when evaluating segment performance and allocating resources.

The accounting policies of the segments are generally the same as those presented in Note A - Summary of Significant Accounting Policies in the Company’s Annual Report on Form 10-K for the fiscal year ended October 26, 2025. Intersegment sales are eliminated in consolidation and are not reviewed when evaluating segment performance. Segment profit also excludes unallocated general corporate expenses, deferred compensation, non-recurring expenses associated with the Transform and Modernize initiative, corporate restructuring plan costs, and interest and other income and expense. Equity in Earnings of Affiliates is included in segment profit; however, earnings attributable to the Company’s corporate venturing investments and noncontrolling interests are excluded.
Segment results, including the significant expense categories regularly provided to the CODM, are provided below. Certain portions of these expenses are retained at the corporate level and are presented in Net Unallocated Expense. The Company is an integrated enterprise, characterized by substantial intersegment cooperation, cost allocations, and sharing of assets. The Company does not represent that these segments, if operated independently, would report the profit and other financial information shown.
Quarter Ended April 26, 2026
In thousandsRetailFoodserviceInternationalTotal
Net Sales$1,789,665 $996,711 $186,225 
Cost of Products Sold1,513,835 792,010 146,904 
Selling, General, and Administrative131,364 48,917 23,686 
Equity in Earnings of Affiliates11,174 — 6,404 
Noncontrolling Interest (Earnings) Loss— — 96 
Segment Profit$155,640 $155,784 $22,135 $333,559 
Net Unallocated Expense127,400 
Noncontrolling Interest Earnings (Loss)(96)
Earnings Before Income Taxes$206,063 

Quarter Ended April 27, 2025
In thousandsRetailFoodserviceInternationalTotal
Net Sales$1,783,835 $936,442 $178,533 
Cost of Products Sold1,518,585 748,234 144,136 
Selling, General, and Administrative136,588 47,574 23,167 
Equity in Earnings of Affiliates8,473 — 6,902 
Noncontrolling Interest (Earnings) Loss— — 275 
Segment Profit$137,135 $140,633 $18,407 $296,175 
Net Unallocated Expense65,411 
Noncontrolling Interest Earnings (Loss)(275)
Earnings Before Income Taxes$230,489 

Six Months Ended April 26, 2026
In thousandsRetailFoodserviceInternationalTotal
Net Sales$3,637,471 $1,994,937 $367,509 
Cost of Products Sold3,133,547 1,586,448 289,789 
Selling, General, and Administrative272,210 96,164 46,031 
Equity in Earnings of Affiliates20,116 — 13,229 
Noncontrolling Interest (Earnings) Loss— — 127 
Segment Profit$251,829 $312,325 $45,046 $609,200 
Net Unallocated Expense168,698 
Noncontrolling Interest Earnings (Loss)(127)
Earnings Before Income Taxes$440,375 

Six Months Ended April 27, 2025
In thousandsRetailFoodserviceInternationalTotal
Net Sales$3,673,968 $1,866,627 $347,028 
Cost of Products Sold3,159,346 1,491,753 273,189 
Selling, General, and Administrative276,116 95,414 48,337 
Equity in Earnings of Affiliates17,776 — 13,429 
Noncontrolling Interest (Earnings) Loss— — 320 
Segment Profit$256,281 $279,459 $39,252 $574,992 
Net Unallocated Expense126,111 
Noncontrolling Interest Earnings (Loss)(320)
Earnings Before Income Taxes$448,561 
The Company’s CODM reviews assets and capital expenditures at a consolidated level and does not use assets by segment to evaluate performance or allocate resources. Therefore, the Company does not disclose these measures by segment. Depreciation and amortization expense is included in the measure of segment profit and disclosed below.
In thousandsQuarter EndedSix Months Ended
April 26, 2026April 27, 2025April 26, 2026April 27, 2025
Depreciation and Amortization
Retail$35,501 $34,955 $71,064 $71,165 
Foodservice21,008 19,527 41,806 39,479 
International4,937 4,194 9,504 8,525 
Corporate7,379 5,287 13,547 10,666 
Total Depreciation and Amortization$68,826 $63,963 $135,921 $129,835 

Disaggregated Revenues: The Company’s products primarily consist of meat and other food products. Total revenue contributed by classes of similar products are:
Quarter EndedSix Months Ended
In thousandsApril 26, 2026April 27, 2025April 26, 2026April 27, 2025
Perishable$2,218,854 $2,076,241 $4,457,184 $4,228,063 
Shelf-stable753,746 822,569 1,542,733 1,659,560 
Total Net Sales$2,972,600 $2,898,810 $5,999,917 $5,887,623 

Perishable includes fresh meats, frozen items, refrigerated meal solutions, bacon, sausages, hams, guacamole, and other items that require refrigeration. Shelf-stable includes canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, and other items that do not require refrigeration.