LEASES	6 Months Ended
Jun. 28, 2026
Leases [Abstract]
LEASES	LEASES During the second quarter of 2026, we entered into two master lease agreements to lease 18 hog production farms to contract growers for Murphy Family Farms. The lease of four farms under these agreements commenced during the second quarter of 2026, with the lease of the remaining 14 farms to commence at various dates through the end of fiscal year 2026. The leases have terms of 10 years with aggregate expected payments totaling $79 million, which includes amounts associated with purchase options that are reasonably certain to be exercised. We accounted for the lease of the four farms that commenced during the second quarter of 2026 as sales-type leases. Accordingly, we derecognized the underlying farm assets, previously classified within property, plant and equipment on the condensed consolidated balance sheet, and recognized a $14 million net investment in leased assets, classified within other assets on the condensed consolidated balance sheet. The resulting gain recognized in the second quarter of 2026 was not material.
LEASES	LEASES During the second quarter of 2026, we entered into two master lease agreements to lease 18 hog production farms to contract growers for Murphy Family Farms. The lease of four farms under these agreements commenced during the second quarter of 2026, with the lease of the remaining 14 farms to commence at various dates through the end of fiscal year 2026. The leases have terms of 10 years with aggregate expected payments totaling $79 million, which includes amounts associated with purchase options that are reasonably certain to be exercised. We accounted for the lease of the four farms that commenced during the second quarter of 2026 as sales-type leases. Accordingly, we derecognized the underlying farm assets, previously classified within property, plant and equipment on the condensed consolidated balance sheet, and recognized a $14 million net investment in leased assets, classified within other assets on the condensed consolidated balance sheet. The resulting gain recognized in the second quarter of 2026 was not material.

LEASES

6 Months Ended

Jun. 28, 2026

During the second quarter of 2026, we entered into two master lease agreements to lease 18 hog production farms to contract growers for Murphy Family Farms. The lease of four farms under these agreements commenced during the second quarter of 2026, with the lease of the remaining 14 farms to commence at various dates through the end of fiscal year 2026. The leases have terms of 10 years with aggregate expected payments totaling $79 million, which includes amounts associated with purchase options that are reasonably certain to be exercised.

We accounted for the lease of the four farms that commenced during the second quarter of 2026 as sales-type leases. Accordingly, we derecognized the underlying farm assets, previously classified within property, plant and equipment on the condensed consolidated balance sheet, and recognized a $14 million net investment in leased assets, classified within other assets on the condensed consolidated balance sheet. The resulting gain recognized in the second quarter of 2026 was not material.

LEASES