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Consolidated Statements of Financial Position - USD ($)
$ in Thousands
Oct. 29, 2023
Oct. 30, 2022
Assets    
Cash and Cash Equivalents $ 736,532 $ 982,107
Short-term Marketable Securities 16,664 16,149
Accounts Receivable (Net of Allowance for Doubtful Accounts of $3,557 at October 29, 2023 and $3,507 at October 30, 2022) 817,391 867,593
Inventories 1,680,406 1,716,059
Taxes Receivable 7,242 7,177
Prepaid Expenses and Other Current Assets 39,014 48,041
Total Current Assets 3,297,249 3,637,125
Goodwill 4,928,464 4,925,829
Other Intangibles 1,757,171 1,803,027
Pension Assets 204,697 245,566
Investments in Affiliates 725,121 271,058
Other Assets 370,252 283,169
Property, Plant, and Equipment    
Land 74,626 74,303
Buildings 1,458,354 1,398,255
Equipment 2,781,730 2,636,660
Construction in Progress 195,665 216,246
Less: Allowance for Depreciation (2,344,557) (2,184,319)
Net Property, Plant, and Equipment 2,165,818 2,141,146
Total Assets 13,448,772 13,306,919
Liabilities and Shareholders’ Investment    
Accounts Payable 771,397 816,604
Accrued Expenses 51,679 58,801
Accrued Marketing Expenses 87,452 113,105
Employee-Related Expenses 263,330 279,072
Interest and Dividends Payable 172,178 163,963
Taxes Payable 15,212 32,925
Current Maturities of Long-term Debt 950,529 8,796
Total Current Liabilities 2,311,776 1,473,266
Long-term Debt Less Current Maturities 2,358,719 3,290,549
Pension and Post-retirement Benefits 349,268 385,832
Deferred Income Taxes 498,106 475,212
Other Long-term Liabilities 191,917 141,840
Shareholders’ Investment    
Preferred Stock, Par Value $0.01 a Share — Authorized 160,000,000 Shares; Issued — None 0 0
Additional Paid-in Capital 506,179 469,468
Accumulated Other Comprehensive Loss (272,252) (255,561)
Retained Earnings 7,492,952 7,313,374
Hormel Foods Corporation Shareholders’ Investment 7,734,885 7,535,284
Noncontrolling Interest 4,100 4,936
Total Shareholders’ Investment 7,738,985 7,540,219
Total Liabilities and Shareholders’ Investment 13,448,772 13,306,919
Common Stock, Nonvoting    
Shareholders’ Investment    
Common Stock 0 0
Common Stock    
Shareholders’ Investment    
Common Stock $ 8,007 $ 8,002