
	Three Months Ended				Nine Months Ended
	September 27, 2026		September 28, 2025		September 27, 2026		September 28, 2025
	(in millions)
Operating gains:







Gains on disposal of assets (1)	$	(7)	$	(1)	$	(9)	$	(4)
Insurance recoveries (2)	—		(2)		—		(37)
Other operating gains (3)	(1)		(6)		(2)		(7)
Operating gains	$	(7)	$	(9)	$	(11)	$	(48)

Non-operating (gains) losses:

(Gains) losses on assets held in rabbi trusts (4)	$	3	$	(23)	$	(10)	$	(29)
Net pension and postretirement benefits cost (5)	—		4		1		13








Other non-operating gains	(2)		—		(6)		—
Non-operating (gains) losses	$	1	$	(19)	$	(15)	$	(17)

(1)The third quarter and first nine months of 2026 include gains recognized in connection with the lease of hog production farms to contract growers for Murphy Family Farms LLC (“Murphy Family Farms”), which were accounted for as sales-type leases. Upon commencement of the leases, the underlying farm assets were derecognized from property, plant and equipment, and the resulting gains were recognized. See “Note 12: Leases” for further discussion.

(2)The first nine months of 2025 includes a gain related to the settlement of a claim against an insurance carrier for losses incurred in connection with past litigation and a gain recognized in the first quarter of 2025 in connection with a settlement of an insurance claim associated with property damage. See “Note 19: Regulation and Contingencies” for further discussion.

(3)The third quarter and first nine months of 2025 include a $6 million gain related to the settlement of a commercial dispute.

(4)Assets held in rabbi trusts are used to fund nonqualified defined benefit pension and deferred compensation plans. The third quarter and first nine months of 2025 include a $17 million gain for a one-time benefit on company-owned life insurance policies.

(5)Includes the components of net pension and postretirement benefits cost other than service cost, which is included in operating profit. These components consist of interest cost, expected return on plan assets, amortization of actuarial gains/losses and prior service costs/credits, and curtailment gains.