Segment Information (Tables)

6 Months Ended

Jul. 04, 2026

Segment Information

Summary of certain segment information



			Three Months Ended July 4, 2026
																					All
																					Other			Inter-
												Liquid									and			Segment
(Millions of dollars)			Pork			CT&M			Marine			Fuels			Power			Turkey			Corporate			Elims			Total
External net sales:
Products		$	483		$	1,545		$	—		$	370		$	—					$	22		$	—		$	2,420
Transportation			6			—			403			—			—						—			—			409
Energy			—			—			—			—			74						—			—			74
Other			13			6			—			—			—						—			—			19
Total external net sales			502			1,551			403			370			74						22			—			2,922
Intersegment net sales ^(a)			18			—			1			—			—						—			(19)			—
Total segment/consolidated net sales		$	520		$	1,551		$	404		$	370		$	74					$	22		$	(19)		$	2,922
Less significant segment expenses:
Cost of sales			477			1,499			368			312			47						20			(22)			2,701
Selling, general and administrative expenses			26			42			29			5			5						14			—			121
Total segment/consolidated operating income (loss)		$	17		$	10		$	7		$	53		$	22					$	(12)		$	3		$	100
Income from affiliates			4			4			1						—			32			—			—			41
Total operating income (loss) and income from affiliates		$	21		$	14		$	8		$	53		$	22		$	32		$	(12)		$	3		$	141
Depreciation and amortization expense		$	40		$	7		$	17		$	9		$	5					$	5		$			$	83
Capital expenditures		$	25		$	27		$	2		$	4		$	35					$	9		$	—		$	102



			Three Months Ended June 28, 2025
																					All
																					Other			Inter-
												Liquid									and			Segment
(Millions of dollars)			Pork			CT&M			Marine			Fuels			Power			Turkey			Corporate			Elims			Total
External net sales:
Products		$	511		$	1,339		$	—		$	146		$	—					$	24		$	—		$	2,020
Transportation			6			—			383			—			—						1			—			390
Energy			—			—			—			—			54						—			—			54
Other			12			4			—			—			—						—			—			16
Total external net sales			529			1,343			383			146			54						25			—			2,480
Intersegment net sales ^(a)			12			—			2			—			—						—			(14)			—
Total segment/consolidated net sales		$	541		$	1,343		$	385		$	146		$	54					$	25		$	(14)		$	2,480
Less significant segment expenses:
Cost of sales			488			1,298			315			168			40						23			(14)			2,318
Selling, general and administrative expenses			25			38			26			4			5						12			—			110
Total segment/consolidated operating income (loss)		$	28		$	7		$	44		$	(26)		$	9					$	(10)		$	—		$	52
Income from affiliates			8			3			1						—			17			—			—			29
Total operating income (loss) and income from affiliates		$	36		$	10		$	45		$	(26)		$	9		$	17		$	(10)		$	—		$	81
Depreciation and amortization expense		$	41		$	6		$	16		$	8		$	5					$	4		$			$	80
Capital expenditures		$	39		$	13		$	86		$	5		$	—					$	8		$	—		$	151



			Six Months Ended July 4, 2026
																					All
																					Other			Inter-
												Liquid									and			Segment
(Millions of dollars)			Pork			CT&M			Marine			Fuels			Power			Turkey			Corporate			Elims			Total
External net sales:
Products		$	948		$	2,741		$	—		$	567		$	—					$	45		$	—		$	4,301
Transportation			12			—			831			—			—						2			—			845
Energy			—			—			—			—			134						—			—			134
Other			27			15			—			—			—						—			—			42
Total external net sales			987			2,756			831			567			134						47			—			5,322
Intersegment net sales ^(a)			30			—			2			—			—						—			(32)			—
Total segment/consolidated net sales		$	1,017		$	2,756		$	833		$	567		$	134					$	47		$	(32)		$	5,322
Less significant segment expenses:
Cost of sales			938			2,646			732			467			94						42			(35)			4,884
Selling, general and administrative expenses			55			83			60			10			9						25			—			242
Total segment/consolidated operating income (loss)		$	24		$	27		$	41		$	90		$	31					$	(20)		$	3		$	196
Income from affiliates			16			9			2						—			56			—			—			83
Total operating income (loss) and income from affiliates		$	40		$	36		$	43		$	90		$	31		$	56		$	(20)		$	3		$	279
Depreciation and amortization expense		$	80		$	14		$	35		$	18		$	11					$	8		$			$	166
Capital expenditures		$	53		$	42		$	8		$	6		$	79					$	10		$	—		$	198
Total assets as of July 4, 2026^(b)		$	2,041		$	2,018		$	1,242		$	758		$	453		$	396		$	1,774		$			$	8,682
Investments in affiliates as of July 4, 2026		$	165		$	181		$	45					$	3		$	396		$	2		$			$	792



			Six Months Ended June 28, 2025
																					All
																					Other			Inter-
												Liquid									and			Segment
(Millions of dollars)			Pork			CT&M			Marine			Fuels			Power			Turkey			Corporate			Elims			Total
External net sales:
Products		$	979		$	2,558		$	—		$	267		$	—					$	52		$	—		$	3,856
Transportation			10			—			786			—			—						1			—			797
Energy			—			—			—			—			107						—			—			107
Other			26			10			—			—			—						—			—			36
Total external net sales			1,015			2,568			786			267			107						53			—			4,796
Intersegment net sales ^(a)			21			—			4			—			—						—			(25)			—
Total segment/consolidated net sales		$	1,036		$	2,568		$	790		$	267		$	107					$	53		$	(25)		$	4,796
Less significant segment expenses:
Cost of sales			988			2,448			636			311			83						51			(25)			4,492
Selling, general and administrative expenses			51			72			53			8			8						22			—			214
Total segment/consolidated operating income (loss)		$	(3)		$	48		$	101		$	(52)		$	16					$	(20)		$	—		$	90
Income from affiliates			16			7			2						—			17			—			—			42
Total operating income (loss) and income from affiliates		$	13		$	55		$	103		$	(52)		$	16		$	17		$	(20)		$	—		$	132
Depreciation and amortization expense		$	80		$	12		$	32		$	16		$	11					$	7		$			$	158
Capital expenditures		$	66		$	17		$	160		$	6		$	1					$	10		$	—		$	260
Total assets as of December 31, 2025^(b)		$	2,033		$	1,662		$	1,285		$	690		$	348		$	413		$	1,815		$			$	8,246
Investments in affiliates as of December 31, 2025		$	160		$	173		$	43					$	3		$	413		$	3		$			$	795

(a)

The Pork segment’s intersegment sales consist primarily of pork fat sold to the Liquid Fuels segment, which uses the pork fat as a feedstock in its renewable diesel and biodiesel production processes. The Marine segment’s intersegment sales consist primarily of shipping services provided to another Seaboard subsidiary. All intercompany transactions are eliminated in consolidation.

(b)

The Turkey segment’s total assets represent Seaboard’s investment in Butterball, LLC (“Butterball”). The total assets of All Other and Corporate consist primarily of short-term investments held by Corporate, which totaled $1 billion as of both July 4, 2026 and December 31, 2025.