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CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($)
$ in Thousands
Jul. 28, 2024
Oct. 29, 2023
Assets    
Cash and Cash Equivalents $ 537,476 $ 736,532
Short-term Marketable Securities 24,454 16,664
Accounts Receivable (Net of Allowance for Doubtful Accounts of $3,678 at July 28, 2024, and $3,557 at October 29, 2023) 727,054 817,391
Inventories 1,649,649 1,680,406
Prepaid Expenses and Other Current Assets 58,814 46,256
Total Current Assets 2,997,446 3,297,249
Goodwill 4,923,731 4,928,464
Other Intangibles 1,743,615 1,757,171
Pension Assets 190,947 204,697
Investments in Affiliates 680,386 725,121
Other Assets 409,125 370,252
Property, Plant, and Equipment    
Land 74,670 74,626
Buildings 1,471,787 1,458,354
Equipment 2,815,248 2,781,730
Construction in Progress 274,823 195,665
Less: Allowance for Depreciation (2,467,997) (2,344,557)
Net Property, Plant, and Equipment 2,168,531 2,165,818
Total Assets 13,113,781 13,448,772
Liabilities and Shareholders’ Investment    
Accounts Payable 675,167 771,397
Accrued Expenses 74,789 51,679
Accrued Marketing Expenses 113,012 87,452
Employee-related Expenses 248,954 263,330
Interest and Dividends Payable 171,079 172,178
Taxes Payable 18,513 15,212
Current Maturities of Long-term Debt 8,232 950,529
Total Current Liabilities 1,309,746 2,311,776
Long-term Debt Less Current Maturities 2,851,621 2,358,719
Pension and Post-retirement Benefits 359,083 349,268
Deferred Income Taxes 499,098 498,106
Other Long-term Liabilities 217,008 191,917
Shareholders’ Investment    
Preferred Stock 0 0
Additional Paid-in Capital 560,849 506,179
Accumulated Other Comprehensive Loss (314,373) (272,252)
Retained Earnings 7,612,610 7,492,952
Hormel Foods Corporation Shareholders’ Investment 7,867,119 7,734,885
Noncontrolling Interest 10,106 4,100
Total Shareholders’ Investment 7,877,225 7,738,985
Total Liabilities and Shareholders’ Investment 13,113,781 13,448,772
Common Stock, Nonvoting    
Shareholders’ Investment    
Common Stock 0 0
Common Stock    
Shareholders’ Investment    
Common Stock $ 8,033 $ 8,007