Hormel Foods (HRL) 10-Q 3 Sep 19 2019 Q3 Quarterly report Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION - shares	9 Months Ended
	Jul. 28, 2019	Sep. 01, 2019
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jul. 28, 2019
Document Transition Report	false
Entity File Number	1-2402
Entity Registrant Name	HORMEL FOODS CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	41-0319970
Entity Address, Address Line One	1 Hormel Place
Entity Address, City or Town	Austin
Entity Address, State or Province	MN
Entity Address, Postal Zip Code	55912
City Area Code	507
Local Phone Number	437-5611
Title of 12(b) Security	Common Stock
Trading Symbol	HRL
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Smaller Reporting Company	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Central Index Key	0000048465
Amendment Flag	false
Current Fiscal Year End Date	--10-27
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		533,969,951
Common Stock Non-Voting
Document Information [Line Items]
Entity Common Stock, Shares Outstanding (in shares)		0

CONSOLIDATED STATEMENTS OF FINA

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION - USD ($) $ in Thousands	Jul. 28, 2019	Oct. 28, 2018
Current Assets
Cash and Cash Equivalents	$ 560,199	$ 459,136
Short-term Marketable Securities	14,064	0
Accounts Receivable	528,583	600,438
Inventories	1,108,514	963,527
Income Taxes Receivable	667	3,995
Prepaid Expenses	22,606	16,342
Other Current Assets	11,335	6,662
Total Current Assets	2,245,968	2,050,100
Goodwill	2,487,289	2,714,116
Other Intangibles	1,038,127	1,207,219
Pension Assets	210,012	195,153
Investments in and Receivables from Affiliates	279,265	273,153
Other Assets	177,529	189,951
Property, Plant and Equipment
Land	49,801	50,332
Buildings	1,035,755	956,260
Equipment	1,887,368	1,863,020
Construction in Progress	242,369	332,205
Less: Allowance for Depreciation	(1,698,907)	(1,689,217)
Net Property, Plant and Equipment	1,516,386	1,512,600
Total Assets	7,954,576	8,142,292
Current Liabilities
Accounts Payable	513,372	618,830
Accrued Expenses	56,378	48,298
Accrued Workers Compensation	25,515	24,594
Accrued Marketing Expenses	134,652	118,887
Employee Related Expenses	193,049	224,736
Taxes Payable	34,377	2,490
Interest and Dividends Payable	115,744	101,079
Total Current Liabilities	1,073,087	1,138,914
Long-term Debt–Less Current Maturities	250,000	624,840
Pension and Post-retirement Benefits	492,860	477,557
Other Long-term Liabilities	102,140	99,070
Deferred Income Taxes	145,154	197,093
Shareholders' Investment
Common stock, issued shares, value	7,818	7,825
Additional Paid-in Capital	170,143	106,528
Accumulated Other Comprehensive Loss	(275,195)	(243,498)
Retained Earnings	5,984,305	5,729,956
Hormel Foods Corporation Shareholders' Investment	5,887,071	5,600,811
Noncontrolling Interest	4,264	4,007
Total Shareholders' Investment	5,891,335	5,604,818
Total Liabilities and Shareholders' Investment	$ 7,954,576	$ 8,142,292

CONSOLIDATED STATEMENTS OF FI_2

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (PARENTHETICAL) - USD ($)	Jul. 28, 2019	Oct. 28, 2018
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized shares (in shares)	160,000,000	160,000,000
Preferred stock, issued shares (in shares)	0	0
Preferred stock, issued shares, value	$ 0	$ 0
Common stock, issued shares, value	$ 7,818,000	$ 7,825,000
Common Stock Non-Voting
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized shares (in shares)	400,000,000	400,000,000
Common stock, issued shares (in shares)	0	0
Common stock, issued shares, value	$ 0	$ 0
Common Stock
Common stock, par value (in dollars per share)	$ 0.01465	$ 0.01465
Common stock, authorized shares (in shares)	1,600,000,000	1,600,000,000
Common stock, issued shares (in shares)	533,679,626	534,135,484

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended			9 Months Ended
	Jul. 28, 2019	Jul. 29, 2018	[1]	Jul. 28, 2019	Jul. 29, 2018	[1]
Income Statement [Abstract]
Net Sales	$ 2,290,705	$ 2,359,142		$ 6,995,804	$ 7,021,003
Cost of Products Sold	1,857,263	1,904,096		5,604,879	5,574,858
Gross Profit	433,442	455,046		1,390,925	1,446,145
Selling, General and Administrative	180,169	211,497		543,789	635,918
Equity in Earnings of Affiliates	3,384	13,141		28,133	50,158
Operating Income	256,657	256,690		875,269	860,385
Other Income and Expense:
Interest and Investment Income	7,556	9,477		25,727	19,560
Interest Expense	(3,213)	(8,435)		(14,975)	(20,165)
Earnings Before Income Taxes	261,000	257,732		886,021	859,780
Provision for Income Taxes	61,573	47,379		162,439	108,694
Net Earnings	199,427	210,353		723,582	751,086
Less: Net Earnings (Loss) Attributable to Noncontrolling Interest	(22)	110		279	352
Net Earnings Attributable to Hormel Foods Corporation	$ 199,449	$ 210,243		$ 723,303	$ 750,734
Net Earnings Per Share
Basic (in dollars per share)	$ 0.37	$ 0.40		$ 1.35	$ 1.42
Diluted (in dollars per share)	$ 0.37	$ 0.39		$ 1.33	$ 1.38
Weighted-average Shares Outstanding
Basic (in shares)	534,188	530,606		534,721	529,953
Diluted (in shares)	543,678	543,762		545,709	543,352
[1]	Adjusted due to the adoption of Accounting Standards Update (ASU) 2017-07, Compensation - Retirement Benefits: Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost (Topic 715) . See Note A - General.

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Jul. 28, 2019	Jul. 29, 2018		Jul. 28, 2019	Jul. 29, 2018
Statement of Comprehensive Income [Abstract]
Net Earnings	$ 199,427	$ 210,353	[1]	$ 723,582	$ 751,086	[1]
Other Comprehensive Income (Loss), Net of Tax:
Foreign Currency Translation	(1,051)	(17,209)		6,696	(8,201)
Pension and Other Benefits	1,768	2,393		6,977	7,366
Deferred Hedging	2,061	(9,010)		8,407	(10,273)
Total Other Comprehensive Income (Loss)	2,778	(23,826)		22,080	(11,108)
Comprehensive Income	202,205	186,527		745,662	739,978
Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interest	(184)	(261)		257	377
Comprehensive Income Attributable to Hormel Foods Corporation	$ 202,389	$ 186,788		$ 745,405	$ 739,601
[1]	Adjusted due to the adoption of Accounting Standards Update (ASU) 2017-07, Compensation - Retirement Benefits: Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost (Topic 715) . See Note A - General.

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' INVESTMENT - USD ($) shares in Thousands, $ in Thousands	3 Months Ended			9 Months Ended
	Jul. 28, 2019	Jul. 29, 2018		Jul. 28, 2019	Jul. 29, 2018		Oct. 29, 2018
Increase (Decrease) in Shareholders' Investment
Beginning balance	$ 5,901,784	$ 5,291,633		$ 5,604,818	$ 4,939,697
Net Earnings	199,427	210,353	[1]	723,582	751,086	[1]
Other Comprehensive (Loss) Income	2,778	(23,826)		22,080	(11,108)
Purchases of Common Stock	(106,624)	0		(174,246)	(44,741)
Stock-based Compensation Expense	3,193	6,265		16,707	17,656
Exercise of Stock Options/Restricted Shares	3,828	10,754		48,251	41,430
Shares Retired	0	0		0	0
Declared Cash Dividends	(113,051)	(99,411)		(337,946)	(298,252)
Ending balance	$ 5,891,335	$ 5,395,768		$ 5,891,335	$ 5,395,768
ASU 2016-16
Increase (Decrease) in Shareholders' Investment
Cumulative Effect Adjustment from Adoption of ASU							$ (10,475)
ASU 2017-12
Increase (Decrease) in Shareholders' Investment
Cumulative Effect Adjustment from Adoption of ASU							0
ASU 2018-02
Increase (Decrease) in Shareholders' Investment
Cumulative Effect Adjustment from Adoption of ASU							(1,436)
Common Stock
Increase (Decrease) in Shareholders' Investment
Beginning balance (in shares)	536,093	530,133		534,135	528,424
Beginning balance	$ 7,854	$ 7,766		$ 7,825	$ 7,741
Stock-based Compensation Expense				$ 1	$ 1
Exercise of Stock Options/Restricted Shares (in shares)	269	971		3,854	4,011
Exercise of Stock Options/Restricted Shares	$ 3	$ 15		$ 55	$ 58
Shares Retired (in shares)	(2,682)			(4,309)	(1,331)
Shares Retired	$ (39)			$ (63)	$ (19)
Ending balance (in shares)	533,680	531,104		533,680	531,104
Ending balance	$ 7,818	$ 7,781		$ 7,818	$ 7,781
Treasury Stock
Increase (Decrease) in Shareholders' Investment
Beginning balance (in shares)	0	0		0	0
Beginning balance	$ 0	$ 0		$ 0	$ 0
Purchases of Common stock (in shares)	(2,682)			(4,309)	(1,331)
Purchases of Common Stock	$ (106,624)			$ (174,246)	$ (44,741)
Shares Retired (in shares)	(2,682)			(4,309)	(1,331)
Shares Retired	$ 106,624			$ 174,246	$ 44,741
Ending balance (in shares)	0	0		0	0
Ending balance	$ 0	$ 0		$ 0	$ 0
Additional Paid-in Capital
Increase (Decrease) in Shareholders' Investment
Beginning balance	163,980	10,971		106,528	13,670
Stock-based Compensation Expense	3,193	6,265		16,706	17,655
Exercise of Stock Options/Restricted Shares	3,825	10,739		48,196	41,372
Shares Retired	(855)			(1,287)	(44,722)
Ending balance	170,143	27,975		170,143	27,975
Retained Earnings
Increase (Decrease) in Shareholders' Investment
Beginning balance	6,003,637	5,504,221		5,729,956	5,162,571
Net Earnings	199,449	210,243		723,303	750,734
Shares Retired	(105,730)			(172,896)
Declared Cash Dividends	(113,051)	(99,411)		(337,946)	(298,252)
Ending balance	5,984,305	5,615,053		5,984,305	5,615,053
Retained Earnings | ASU 2016-16
Increase (Decrease) in Shareholders' Investment
Cumulative Effect Adjustment from Adoption of ASU							(10,475)
Retained Earnings | ASU 2017-12
Increase (Decrease) in Shareholders' Investment
Cumulative Effect Adjustment from Adoption of ASU							21
Retained Earnings | ASU 2018-02
Increase (Decrease) in Shareholders' Investment
Cumulative Effect Adjustment from Adoption of ASU							52,342
Accumulated Other Comprehensive (Loss) Income
Increase (Decrease) in Shareholders' Investment
Beginning balance	(278,135)	(235,753)		(243,498)	(248,075)
Other Comprehensive (Loss) Income	2,940	(23,455)		22,102	(11,133)
Ending balance	(275,195)	(259,208)		(275,195)	(259,208)
Accumulated Other Comprehensive (Loss) Income | ASU 2017-12
Increase (Decrease) in Shareholders' Investment
Cumulative Effect Adjustment from Adoption of ASU							(21)
Accumulated Other Comprehensive (Loss) Income | ASU 2018-02
Increase (Decrease) in Shareholders' Investment
Cumulative Effect Adjustment from Adoption of ASU							$ (53,778)
Non- controlling Interest
Increase (Decrease) in Shareholders' Investment
Beginning balance	4,448	4,428		4,007	3,790
Net Earnings	(22)	110		279	352
Other Comprehensive (Loss) Income	(162)	(371)		(22)	25
Ending balance	$ 4,264	$ 4,167		$ 4,264	$ 4,167
[1]	Adjusted due to the adoption of Accounting Standards Update (ASU) 2017-07, Compensation - Retirement Benefits: Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost (Topic 715) . See Note A - General.

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' INVESTMENT (PARENTHETICAL) - $ / shares	3 Months Ended		9 Months Ended
	Jul. 28, 2019	Jul. 29, 2018	Jul. 28, 2019	Jul. 29, 2018
Statement of Stockholders' Equity [Abstract]
Declared Cash Dividends (in dollars per share)	$ 0.21	$ 0.1875	$ 0.63	$ 0.5625

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Jul. 28, 2019	Jul. 29, 2018
Operating Activities
Net Earnings	$ 723,582	$ 751,086	[1]
Adjustments to Reconcile to Net Cash Provided by Operating Activities:
Depreciation	113,278	111,586
Amortization of Intangibles	8,937	9,522
Equity in Earnings of Affiliates	(28,133)	(50,158)
Distribution from Equity Method Investees	20,000	20,023
(Benefit) Provision for Deferred Income Taxes	(37,921)	(56,110)
(Gain) Loss on Property/Equipment Sales and Plant Facilities	(1,046)	(1,330)
Gain on Sale of Business	(16,469)	0
Non-cash Investment Activities	(19,778)	(9,696)
Stock-based Compensation Expense	16,707	17,656
Changes in Operating Assets and Liabilities, Net of Acquisitions:
Decrease (Increase) in Accounts Receivable	41,309	78,730
(Increase) Decrease in Inventories	(190,064)	(48,927)
(Increase) Decrease in Prepaid Expenses and Other Current Assets	(589)	(12,863)
Increase (Decrease) in Pension and Post-retirement Benefits	8,473	163
(Decrease) Increase in Accounts Payable and Accrued Expenses	(94,348)	(84,182)
Increase (Decrease) in Net Income Taxes Payable	28,974	17,705
Net Cash Provided by Operating Activities	572,912	743,205
Investing Activities
Net (Purchase) Sale of Securities	(13,884)	0
Proceeds from Sale of Business	473,885	0
Acquisitions of Businesses/Intangibles	0	(857,668)
Purchases of Property/Equipment	(154,231)	(243,975)
Proceeds from Sales of Property/Equipment	36,258	7,242
(Increase) Decrease in Investments, Equity in Affiliates, and Other Assets	(3,542)	(6,863)
Proceeds from Company-owned Life Insurance	16,455	5,294
Net Cash Provided by (Used in) Investing Activities	354,941	(1,095,970)
Financing Activities
Net Proceeds from Short-term Debt	0	95,000
Proceeds from Long-term Debt	0	375,000
Repayments of Long-term Debt	(374,840)	(199)
Dividends Paid on Common Stock	(324,971)	(288,515)
Share Repurchase	(174,246)	(44,741)
Proceeds from Exercise of Stock Options	48,107	40,732
Net Cash (Used in) Provided by Financing Activities	(825,950)	177,277
Effect of Exchange Rate Changes on Cash	(840)	348
Increase (Decrease) in Cash and Cash Equivalents	101,063	(175,140)
Cash and Cash Equivalents at Beginning of Year	459,136	444,122
Cash and Cash Equivalents at End of Quarter	$ 560,199	$ 268,982
[1]	Adjusted due to the adoption of Accounting Standards Update (ASU) 2017-07, Compensation - Retirement Benefits: Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost (Topic 715) . See Note A - General.

GENERAL

GENERAL	9 Months Ended
	Jul. 28, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GENERAL	GENERAL Basis of Presentation: The accompanying unaudited consolidated financial statements of Hormel Foods Corporation (the Company) have been prepared in accordance with generally accepted accounting principles for interim financial information, and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the interim period are not necessarily indicative of the results that may be expected for the full year. The Consolidated Statement of Financial Position at October 28, 2018 , has been derived from the audited financial statements at that date but does not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. For further information, refer to the consolidated financial statements and footnotes included in the Company’s Annual Report on Form 10-K for the fiscal year ended October 28, 2018 . Investments: The Company maintains a rabbi trust to fund certain supplemental executive retirement plans and deferred income plans. Under the plans, the participants can defer certain types of compensation and elect to receive a return on the deferred amounts based on the changes in fair value of various investment options, primarily a variety of mutual funds. The Company has corporate-owned life insurance policies on certain participants in the deferred compensation plans. The cash surrender value of the policies is included in Other Assets on the Consolidated Statements of Financial Position. The securities held by the trust are classified as trading securities. Therefore, unrealized gains and losses associated with these investments are included in the Company’s earnings. Securities held by the trust generated gains of $1.7 million and $7.9 million for the third quarter and nine months ended July 28, 2019 , compared to losses of $1.4 million and gains of $2.6 million for the third quarter and nine months ended July 29, 2018 . Supplemental Cash Flow Information: Non-cash investment activities presented on the Consolidated Statements of Cash Flows primarily consist of unrealized gains or losses on the Company’s rabbi trust. The noted investments are included in Other Assets on the Consolidated Statements of Financial Position. Changes in the value of these investments are included in the Company’s Net Earnings and are presented in the Consolidated Statements of Operations as Interest and Investment Income. Guarantees: The Company enters into various agreements guaranteeing specified obligations of affiliated parties. The Company’s guarantees either terminate in one year or remain in place until such time as the Company revokes the agreement. The Company currently provides revocable standby letters of credit totaling $2.4 million to guarantee obligations that may arise under workers compensation claims of an affiliated party. This potential obligation is not reflected in the Company’s Consolidated Statements of Financial Position. Reclassifications: Certain reclassifications of previously reported amounts have been made to conform to the current year presentation. The reclassifications had no impact on Net Earnings or Operating Income, other than those related to the adoption of ASU 2017-07 as described within the new accounting pronouncements adopted in the current fiscal year. Accounting Changes and Recent Accounting Pronouncements: New Accounting Pronouncements Adopted in Current Fiscal Year In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) . This topic converges the guidance within U.S. GAAP and international financial reporting standards and supersedes ASC 605, Revenue Recognition . The new standard requires companies to recognize revenue to depict the transfer of goods or services to customers in amounts that reflect the consideration to which the company expects to be entitled in exchange for those goods or services. The new standard will also result in enhanced disclosures about revenue, provide guidance for transactions which were not previously addressed comprehensively, and improve guidance for multiple-element arrangements. The new guidance is effective for annual reporting periods beginning after December 15, 2017. The updated guidance is to be applied either retrospectively or by using a cumulative effect adjustment. The Company adopted the provisions of the new standard using the full retrospective method at the beginning of fiscal 2019. The Company made the following policy elections upon adoption: to account for shipping and handling costs as contract fulfillment costs and to exclude taxes imposed on and collected from customers in revenue producing transactions (e.g., sales, use, and value added taxes) from the transaction price. The Company will account for variable consideration using the expected value method. The Company also applied the practical expedient to not capitalize contract costs to obtain contracts with a duration of one year or less, which are expensed and included in the Consolidated Statements of Operations. The Company did not have a cumulative effect adjustment as a result of adoption. Adoption of the new standard did not have a material impact on the Company’s results of operations. Additional qualitative disclosures have been provided in Note B - Revenue Recognition and further disaggregation of revenues provided in Note N - Segment Reporting. In October 2016, the FASB issued ASU 2016-16, Income Taxes - Intra-Entity Transfers of Assets Other Than Inventory (Topic 740) . The updated guidance requires the recognition of the income tax consequences of an intra-entity asset transfer, other than transfers of inventory, when the transfer occurs. For intra-entity transfers of inventory, the income tax effects will continue to be deferred until the inventory has been sold to a third party. The updated guidance is effective for reporting periods beginning after December 15, 2017, with early adoption permitted only within the first interim period of a fiscal year. The guidance is required to be applied on a modified retrospective basis through a cumulative effect adjustment directly to retained earnings as of the beginning of the period of adoption. The Company adopted the updated provisions at the beginning of fiscal 2019, resulting in a reclassification from prepaid tax assets to deferred tax assets. In addition, due to the impact of the lower tax rate on deferred tax balances resulting from the Tax Cuts and Jobs Act (Tax Act), the Company recognized a cumulative effect adjustment to Retained Earnings of $10.5 million . In March 2017, the FASB issued ASU 2017-07, Compensation - Retirement Benefits: Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost (Topic 715) . The updated guidance requires an employer to report the service cost component of net periodic pension cost and net periodic post-retirement benefit cost in the same line item as other compensation costs. Other components of net periodic pension cost and net periodic post-retirement benefit cost must be presented in the income statement separately from the service cost component and outside income from operations. Additionally, only the service cost component is eligible for capitalization. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. The updated guidance should be applied retrospectively for the presentation of components of net benefit cost and prospectively, for the capitalization of the service cost component of net benefit cost. The Company adopted the updated provisions at the beginning of fiscal 2019. The Company elected to utilize a practical expedient which allows the Company to use historical amounts disclosed in the Pension and Other Post-retirement Benefits footnote as an estimation basis for retrospectively applying the requirements to separately report the other components in the income statement. Due to the retrospective adoption, the Company reclassified $4.9 million and $14.1 million of non-service cost components of net periodic benefit costs out of Operating Income to Interest and Investment Income on the Consolidated Statements of Operations for the three months and nine months ended July 29, 2018. In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging - Targeted Improvements to Accounting for Hedging Activities (Topic 815) . The updated guidance expands an entity’s ability to hedge nonfinancial and financial risk components and reduce complexity in fair value hedges of interest rate risk. The guidance eliminates the requirement to separately measure and report hedge ineffectiveness and generally requires the entire change in the fair value of a hedging instrument to be presented in the same income statement line as the hedged item. The guidance also eases certain documentation and assessment requirements and modifies the accounting for components excluded from the assessment of hedge effectiveness. Entities will apply the amendments to cash flow and net investment hedge relationships that exist on the date of adoption using a modified retrospective approach. The presentation and disclosure requirements apply prospectively. The updated guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those years. Early adoption is permitted in any interim or annual period. The Company early adopted the updated guidance at the beginning of fiscal 2019, therefore eliminating the requirement to separately measure and report hedge ineffectiveness. The Company applied the amendment to cash flow hedge relationships existing on the date of adoption using a modified retrospective approach. Presentation and disclosure requirements were applied on a prospective basis. The adoption resulted in an immaterial adjustment from Retained Earnings to Accumulated Other Comprehensive Loss. In February 2018, the FASB issued ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220). The updated guidance allows entities to reclassify stranded income tax effects resulting from the Tax Act from accumulated other comprehensive income to retained earnings in their consolidated financial statements. Under the Tax Act, deferred taxes were adjusted to reflect the reduction of the historical corporate income tax rate to the newly enacted corporate income tax rate, which left the tax effects on items within accumulated other comprehensive income stranded at an inappropriate tax rate. The updated guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those years. Early adoption is permitted in any interim period and should be applied either in the period of adoption or retrospectively to each period (or periods) in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Act is recognized. The Company early adopted the updated provisions at the beginning of fiscal 2019, resulting in a reclassification of $53.8 million to Accumulated Other Comprehensive Loss. In August 2018, the FASB issued ASU No. 2018-15, Intangibles - Goodwill and Other - Internal-Use Software: Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (Topic 350). The amendments in the update align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The amendments are effective for fiscal years beginning after December 15, 2019, and for interim periods within those fiscal years and is to be applied either retrospectively or prospectively to all implementation costs incurred after the adoption date. Early adoption is permitted, including adoption in any interim period. The Company early adopted the updated provisions on a prospective basis at the beginning of fiscal 2019. Subsequent to adoption, the Company has capitalized $13.1 million in cloud implementation costs, primarily associated with the transition to Oracle Cloud Solutions. New Accounting Pronouncements Not Yet Adopted In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) . The updated guidance requires lessees to recognize a right-of-use asset and lease liability for all leases with terms of more than 12 months. Recognition, measurement, and presentation of expenses will depend on the classification as a finance or operating lease. The update also requires certain quantitative and qualitative disclosures. Accounting guidance for lessors is largely unchanged. The requirements of the new standard are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company will adopt the provisions of this new accounting standard at the beginning of fiscal 2020. The Company has elected the package of practical expedients to not reassess prior conclusions related to contracts containing leases, lease classification, and initial direct costs. In July 2018, the FASB issued ASU 2018-11, which provides an optional transition method allowing entities the option to use the effective date as the date of initial application on transition. The Company is electing this transition method, and as a result, the Company will not adjust its comparative period financial information or make the new required lease disclosures for periods before the effective date. The Company has elected to not separate lease and non-lease components. The Company will not elect the hindsight practical expedient. In connection with the adoption of the new lease accounting standard, the Company has completed scoping reviews and has made progress in developing business process, accounting policies, and internal controls. The Company has implemented new lease accounting software to provide a centralized repository and assist in the preparation of the standard's additional reporting requirements. Based on the assessment to-date, the Company expects an increase to assets and an offsetting increase to liabilities on the Consolidated Statements of Financial Position. The Company expects the lease standard to have an immaterial impact on the Consolidated Statements of Operations and the Consolidated Statements of Cash Flows. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments (Topic 958) . The update provides guidance on the measurement of credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. The amendment replaces the current incurred loss impairment approach with a methodology to reflect expected credit losses and requires consideration of a broader range of reasonable and supportable information to explain credit loss estimates. The updated guidance is to be applied on a modified retrospective approach and is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted for all entities for fiscal years beginning after December 15, 2018, and interim periods therein. The Company will adopt the provisions of this new accounting standard at the beginning of fiscal 2021 and is in the process of evaluating the impact. In July 2018, the FASB issued ASU 2018-09, Codification Improvements . This amendment makes changes to a variety of topics to clarify, correct errors in, or make minor improvements to the Accounting Standards Codification (ASC). The transition and effective date guidance is based on the facts and circumstances of each amendment. Some of the amendments do not require transition guidance and will be effective upon issuance of ASU 2018-09. The amendments effective upon issuance did not have a material impact on the Company's consolidated financial statements. A majority of the amendments do have transition guidance with effective dates for annual periods beginning after December 15, 2018. The Company is in the process of evaluating the timing and impact of adopting the remaining amendments. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement - Disclosure Framework (Topic 820). The updated guidance improves the disclosure requirements on fair value measurements. The updated guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted for any removed or modified disclosures. The Company is currently assessing the timing and impact of adopting the updated provisions. In August 2018, the FASB issued ASU 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans (Topic 715) . The updated guidance improves disclosure requirements for employers who sponsor defined benefit pension or other postretirement plans. The amendments are effective for fiscal years ending after December 15, 2020, with early adoption permitted. The Company is currently assessing the timing and impact of adopting the updated provisions.

REVENUE RECOGNITION

REVENUE RECOGNITION	9 Months Ended
	Jul. 28, 2019
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	REVENUE RECOGNITION Revenue from Contracts with Customers: Effective October 29, 2018, the Company adopted ASC 606, Revenue from Contracts with Customers using the full retrospective adoption method. The impact of adopting this guidance was immaterial to the Company’s financial statements and related disclosures. Under ASC 606, a contract with a customer is an agreement which both parties have approved, that creates enforceable rights and obligations, has commercial substance, where payment terms are identified, and collectability is probable. The Company’s customer contracts predominantly contain a single performance obligation to fulfill customer orders for the purchase of specified products. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer. Revenue from product sales is primarily identified by purchase orders (“contracts”) which in some cases are governed by a master sales agreement. The purchase orders in combination with the invoice typically specify quantity and product(s) ordered, shipping terms, and certain aspects of the transaction price including discounts. Contracts are at standalone pricing or governed by pricing lists or brackets. The Company’s revenue is recognized when obligations under the terms of the agreement are satisfied. This is typically once the shipped product is received or picked up by the customer. Revenues are recognized at the net consideration the Company expects to receive in exchange for the goods. The amount of net consideration recognized includes estimates of variable consideration, including costs for trade promotion programs, consumer incentives, and allowances and discounts associated with distressed or potentially unsaleable products. A majority of the Company’s revenue is short-term in nature with shipments within one year from order date. The Company's payment terms generally range between 7 to 45 days and vary by sales channel and other factors. The Company promotes products through advertising, consumer incentives, and trade promotions. These programs include discounts, slotting fees, coupons, rebates, and in-store display incentives. Customer trade promotion and consumer incentive activities are recorded as a reduction to the sale price based on amounts estimated as variable consideration. The Company estimates variable consideration at the expected value method to determine the total consideration which the Company expects to be entitled. Estimated amounts are included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. The Company’s estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based largely on an assessment of anticipated performance and all information (historical, current and forecasted) that is reasonably available. The Company elected to account for shipping and handling costs as contract fulfillment costs, and exclude taxes imposed on and collected from customers in revenue producing transactions (e.g., sales, use, and value added taxes) from the transaction price. Disaggregation of Revenue: The Company discloses revenue by reportable segment. A reconciliation of these disaggregated revenues is provided in Note N - Segment Reporting. Contract Balances: The Company does not have significant deferred revenue or unbilled receivable balances as a result of transactions with customers. Contract Costs: The Company elected to apply the practical expedient to not capitalize contract costs to obtain contracts with duration of one year or less, which are expensed and included in the Consolidated Statements of Operations.

ACQUISITIONS AND DIVESTITURES

ACQUISITIONS AND DIVESTITURES	9 Months Ended
	Jul. 28, 2019
Business Combinations [Abstract]
ACQUISITIONS AND DIVESTITURES	ACQUISITIONS AND DIVESTITURES Divestiture: On April 15, 2019, the Company completed the sale of CytoSport, Inc. (CytoSport), which includes the Muscle Milk ® and Evolve ® brands, to PepsiCo, Inc., and received proceeds of $473.9 million , subject to working capital adjustments. The divestiture resulted in a pretax gain of approximately $16.5 million recognized in Selling, General and Administrative expense and a tax benefit of $17.0 million recognized within the Provision for Income Taxes on the Consolidated Statements of Operations. CytoSport's results of operations through the date of divestiture are included within Earnings Before Income Taxes in the Consolidated Statements of Operations and are reported within the Grocery Products and International & Other segments (See Note N - Segment Reporting). Acquisition: On November 27, 2017, the Company acquired Columbus Manufacturing, Inc. (Columbus), an authentic premium deli meat and salami company, from Chicago-based Arbor Investments for a final purchase price of $857.4 million . The transaction was funded with cash on hand and by borrowing $375.0 million under a term loan facility and $375.0 million under a revolving credit facility. Columbus specializes in authentic premium deli meat and salami. This acquisition allows the Company to enhance its scale in the deli by broadening its portfolio of products, customers, and consumers. The acquisition was accounted for as a business combination using the acquisition method. The Company obtained an independent appraisal and completed purchase accounting for the acquisition in the fourth quarter of fiscal 2018. A final allocation of the purchase price to the acquired assets, liabilities, and goodwill is presented in the table below. (in thousands) Accounts receivable $ 21,199 Inventory 32,817 Prepaid and other assets 881 Other assets 936 Property, plant and equipment 83,662 Intangible assets 223,704 Goodwill 610,602 Current liabilities (21,366 ) Deferred taxes (95,077 ) Purchase price $ 857,358 Goodwill is calculated as the excess of the purchase price over the fair value of the net assets recognized. The $610.6 million of goodwill recorded as part of the acquisition primarily reflects the value of the potential to expand presence in the deli channel and serves as the catalyst for uniting all of the Company's deli businesses into one customer-facing organization. The goodwill and intangible assets have been allocated to the Refrigerated Foods segment. Operating results for this acquisition have been included in the Company’s Consolidated Statements of Operations from the date of acquisition and are reflected in the Refrigerated Foods segment.

INVENTORIES

INVENTORIES	9 Months Ended
	Jul. 28, 2019
Inventory, Net [Abstract]
INVENTORIES	INVENTORIES Principal components of inventories are: (in thousands) July 28, October 28, Finished products $ 665,028 $ 525,628 Raw materials and work-in-process 254,629 247,495 Operating supplies 122,712 126,644 Maintenance materials and parts 66,145 63,760 Total $ 1,108,514 $ 963,527

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	9 Months Ended
	Jul. 28, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	GOODWILL AND INTANGIBLE ASSETS Goodwill: The changes in the carrying amounts of goodwill for the three and nine months ended July 28, 2019 , are presented in the table below. The reduction in goodwill during fiscal 2019 is due to the divestiture of CytoSport on April 15, 2019. Beginning balances have been reclassified to conform to the current year presentation between segments. See Note N - Segment Reporting and Note C - Acquisitions and Divestitures for additional information. (in thousands) Grocery Refrigerated Jennie-O Turkey Store International Total Balance at April 28, 2019 $ 632,301 $ 1,458,692 $ 176,628 $ 219,014 $ 2,486,635 Foreign currency translation — — — 654 654 Balance at July 28, 2019 $ 632,301 $ 1,458,692 $ 176,628 $ 219,668 $ 2,487,289 (in thousands) Grocery Products Refrigerated Foods Jennie-O Turkey Store International & Other Total Reported balance at October 28, 2018 $ 882,582 $ 1,406,897 $ 203,214 $ 221,423 $ 2,714,116 Segment reclassification (25,209 ) 51,795 (26,586 ) — — Adjusted balance at October 28, 2018 857,373 1,458,692 176,628 221,423 2,714,116 Goodwill sold (225,072 ) — — (4,945 ) (230,017 ) Foreign currency translation — — — 3,190 3,190 Balance at July 28, 2019 $ 632,301 $ 1,458,692 $ 176,628 $ 219,668 $ 2,487,289 Intangible Assets: The reduction in indefinite and definite-lived intangible assets for fiscal year 2019 is due to the divestiture of CytoSport. The carrying amounts for indefinite-lived intangible assets are presented in the table below. (in thousands) July 28, October 28, Brands/tradenames/trademarks $ 959,400 $ 1,108,122 Other intangibles 184 184 Foreign currency translation (2,830 ) (3,484 ) Total $ 956,754 $ 1,104,822 The gross carrying amount and accumulated amortization for definite-lived intangible assets are presented in the table below. July 28, 2019 October 28, 2018 (in thousands) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Customer lists/relationships $ 113,739 $ (34,418 ) $ 137,039 $ (36,367 ) Other intangibles 6,957 (2,494 ) 6,155 (1,547 ) Foreign currency translation — (2,411 ) — (2,883 ) Total $ 120,696 $ (39,323 ) $ 143,194 $ (40,797 ) Amortization expense was $2.6 million and $8.9 million for the third quarter and nine months ended July 28, 2019 , respectively, compared to $3.3 million and $9.5 million for the third quarter and nine months ended July 29, 2018 . Estimated annual amortization expense for the five fiscal years after October 28, 2018 , is as follows: (in millions) 2019 $11.7 2020 10.7 2021 10.7 2022 10.4 2023 9.5

PENSION AND OTHER POST-RETIREME

PENSION AND OTHER POST-RETIREMENT BENEFITS	9 Months Ended
	Jul. 28, 2019
Retirement Benefits [Abstract]
PENSION AND OTHER POST-RETIREMENT BENEFITS	PENSION AND OTHER POST-RETIREMENT BENEFITS Net periodic benefit cost for pension and other post-retirement benefit plans consists of the following: Pension Benefits Three Months Ended Nine Months Ended (in thousands) July 28, July 29, July 28, July 29, Service cost $ 6,510 $ 7,903 $ 19,531 $ 23,709 Interest cost 15,097 14,045 45,289 42,144 Expected return on plan assets (23,123 ) (24,776 ) (69,369 ) (74,317 ) Amortization of prior service cost (699 ) (617 ) (2,096 ) (1,851 ) Recognized actuarial loss 3,702 4,548 11,104 13,626 Curtailment loss (gain) — — 2,825 — Net periodic cost $ 1,487 $ 1,103 $ 7,284 $ 3,311 Post-retirement Benefits Three Months Ended Nine Months Ended (in thousands) July 28, July 29, July 28, July 29, Service cost $ 173 $ 98 $ 520 $ 739 Interest cost 3,007 2,692 9,181 8,356 Amortization of prior service cost (669 ) (812 ) (2,007 ) (2,233 ) Recognized actuarial loss — 44 — 133 Curtailment loss (gain) — — (620 ) — Net periodic cost $ 2,511 $ 2,022 $ 7,074 $ 6,995 Non-service cost components of net pension and postretirement benefit cost are presented within interest and investment income on the Consolidated Statements of Operations. Curtailments were recognized in the first quarter of fiscal 2019 due to the sale of the Fremont facility.

DERIVATIVES AND HEDGING

DERIVATIVES AND HEDGING	9 Months Ended
	Jul. 28, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES AND HEDGING	DERIVATIVES AND HEDGING The Company uses hedging programs to manage price risk associated with commodity purchases. These programs utilize futures and options contracts to manage the Company’s exposure to price fluctuations in the commodities markets. The Company has determined its designated hedging programs to be highly effective in offsetting the changes in fair value or cash flows generated by the items hedged. Effectiveness testing is performed on a quarterly basis to ascertain a high level of effectiveness for cash flow and fair value hedging programs. Cash Flow Hedges: The Company designates corn and lean hog futures and options used to offset price fluctuations in the Company’s future direct grain and hog purchases as cash flow hedges. Effective gains or losses related to these cash flow hedges are reported in accumulated other comprehensive loss (AOCL) and reclassified into earnings, through cost of products sold, in the period or periods in which the hedged transactions affect earnings. The Company typically does not hedge its grain exposure beyond the next two upcoming fiscal years and its hog exposure beyond the next fiscal year. Fair Value Hedges: The Company designates the futures it uses to minimize the price risk assumed when fixed forward priced contracts are offered to the Company’s commodity suppliers as fair value hedges. The intent of the program is to make the forward priced commodities cost nearly the same as cash market purchases at the date of delivery. Changes in the fair value of the futures contracts, along with the gain or loss on the hedged purchase commitment, are marked-to-market through earnings and recorded on the Consolidated Statements of Financial Position as a current asset and liability, respectively. Effective gains or losses related to these fair value hedges are recognized through cost of products sold in the period or periods in which the hedged transactions affect earnings. Other Derivatives: The Company holds certain futures and options contract positions as part of a merchandising program and to manage the Company’s exposure to fluctuations in commodity markets. The Company has not applied hedge accounting to these positions. Activity related to derivatives not designated as hedges is immaterial to the consolidated financial statements. Volume: As of July 28, 2019 , and October 28, 2018 , the Company had the following outstanding commodity futures and options contracts related to its hedging programs: Volume Commodity Contracts July 28, 2019 October 28, 2018 Corn 30.8 million bushels 23.0 million bushels Lean hogs 207.5 million pounds 56.9 million pounds Fair Value of Derivatives: The fair values of the Company’s derivative instruments (in thousands) as of July 28, 2019 , and October 28, 2018 , were as follows: Fair Value (1) Derivatives Designated as Hedges: Location on Consolidated Statements of Financial Position July 28, October 28, Commodity contracts Other Current Assets $ 7,478 $ (30 ) (1) Amounts represent the gross fair value of derivative assets and liabilities. The Company nets the derivative assets and liabilities for each of its hedging programs, including cash collateral, when a master netting arrangement exists between the Company and the counterparty to the derivative contract. The amount or timing of cash collateral balances may impact the classification of the derivative in the Consolidated Statements of Financial Position. See Note L - Fair Value Measurements for a discussion of these net amounts as reported in the Consolidated Statements of Financial Position. Fair Value Hedge - Assets (Liabilities): The carrying amount (in thousands) of the Company's fair value hedge assets (liabilities) as of July 28, 2019 , and October 28, 2018 , were as follows: Location on Consolidated Statements of Financial Position Carrying Amount of the Hedged Assets/(Liabilities) July 28, October 28, 2018 Accounts Payable $ 1,234 $ (594 ) AOCL Impact: In fiscal 2019, the Company adopted the amended guidance of ASC 815, Derivatives and Hedging . As a result, hedge ineffectiveness related to effective relationships is now deferred in AOCL until the hedged item impacts earnings. Prior to fiscal 2019, gains or losses on the derivative instrument in excess of the cumulative change in the cash flows of the hedged item, if any (i.e, the ineffective portion) were recognized in the Consolidated Statements of Operations during the current period. As of July 28, 2019 , the Company has included in AOCL, before tax hedging gains of $9.0 million relating to its positions. The Company expects to recognize the majority of these gains over the next 12 months. The effect of AOCL for gains or losses (before tax, in thousands) related to the Company's derivative instruments for the three months ended July 28, 2019 , and July 29, 2018 , were as follows: Gain/(Loss) Recognized in AOCL (1) Location on Consolidated Statements of Operations Gain/(Loss) Reclassified from AOCL into Earnings (1) Gain/(Loss) Recognized in Earnings (Ineffective Portion) Three Months Ended Three Months Ended Three Months Ended Cash Flow Hedges: July 28, 2019 July 29, 2018 July 28, 2019 July 29, 2018 July 28, 2019 July 29, 2018 Commodity Contracts $ 9,883 $ (12,620 ) Cost of Products Sold $ 940 $ (763 ) $ — $ (241 ) Excluded Component (2) $ (4,742 ) The effect of AOCL for gains or losses (before tax, in thousands) related to the Company's derivative instruments for the nine months ended July 28, 2019 , and July 29, 2018 , were as follows: Gain/(Loss) Location on Gain/(Loss) Gain/(Loss) Nine Months Ended Nine Months Ended Nine Months Ended Cash Flow Hedges: July 28, 2019 July 29, 2018 July 28, 2019 July 29, 2018 July 28, 2019 July 29, 2018 Commodity Contracts $ 9,546 $ (13,869 ) Cost of Products Sold $ (835 ) $ (195 ) $ — $ (602 ) Excluded Component (2) $ 501 (1) See Note I - Accumulated Other Comprehensive Loss for the after-tax impact of these gains or losses on Net Earnings. (2) Represents the time value amount of lean hog options excluded from the assessment of effectiveness for which the difference between changes in fair value and periodic amortization is recorded in AOCL. Consolidated Statements of Operations Impact: The effect on the Consolidated Statements of Operations for gains or losses (before tax, in thousands) related to the Company's derivative instruments for the three months and nine months ended July 28, 2019 , and July 29, 2018 , were as follows: Cost of Products Sold Three Months Ended Nine Months Ended July 28, 2019 July 29, 2018 July 28, 2019 July 29, 2018 Consolidated Statements of Operations $ 1,857,263 $ 1,904,096 $ 5,604,879 $ 5,574,858 Cash Flow Hedges - Commodity Contracts Gain (loss) reclassified from AOCL 940 (763 ) (835 ) (195 ) Amortization of excluded component from options (313 ) — (2,781 ) — Gain (loss) due to ineffectiveness — (241 ) — (602 ) Fair Value Hedges - Commodity Contracts Gain (loss) on commodity futures (1) 656 1,363 2,293 3,144 Gain (loss) due to ineffectiveness — 29 — (243 ) Total gain (loss) recognized in earnings $ 1,283 $ 388 $ (1,323 ) $ 2,104 (1) Amounts represent losses on commodity contracts designated as fair value hedges that were closed during the quarter, which were offset by a corresponding gain on the underlying hedged purchase commitment. Additional gains or losses related to changes in the fair value of open commodity contracts, along with the offsetting gain or loss on the hedged purchase commitment, are also marked-to-market through earnings with no impact on a net basis.

INVESTMENTS IN AND RECEIVABLES

INVESTMENTS IN AND RECEIVABLES FROM AFFILIATES	9 Months Ended
	Jul. 28, 2019
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENTS IN AND RECEIVABLES FROM AFFILIATES	INVESTMENTS IN AND RECEIVABLES FROM AFFILIATES The Company accounts for its majority-owned operations under the consolidation method. Investments in which the Company owns a minority interest, and for which there are no other indicators of control, are accounted for under the equity or cost method. These investments, along with any related receivables from affiliates, are included in the Consolidated Statements of Financial Position as investments in and receivables from affiliates. Investments in and receivables from affiliates consist of the following: (in thousands) Segment % Owned July 28, October 28, MegaMex Foods, LLC Grocery Products 50% $ 207,832 $ 205,148 Foreign Joint Ventures International & Other Various (26-40%) 71,433 68,005 Total $ 279,265 $ 273,153 Equity in earnings of affiliates consists of the following: Three Months Ended Nine Months Ended (in thousands) Segment July 28, July 29, July 28, July 29, MegaMex Foods, LLC Grocery Products $ 3,418 $ 11,859 $ 27,399 $ 44,381 Foreign Joint Ventures International & Other (34 ) 1,282 734 5,777 Total $ 3,384 $ 13,141 $ 28,133 $ 50,158 For the three months ended July 28, 2019 , and July 29, 2018 , respectively, $10.0 million of dividends were received from affiliates. For the nine months ended July 28, 2019 , and July 29, 2018 , $20.0 million of dividends were received from affiliates. The Company recognized a basis difference of $21.3 million associated with the formation of MegaMex Foods, LLC, of which $12.9 million is remaining as of July 28, 2019 . This difference is being amortized through Equity in Earnings of Affiliates.

ACCUMULATED OTHER COMPREHENSIVE

ACCUMULATED OTHER COMPREHENSIVE LOSS	9 Months Ended
	Jul. 28, 2019
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED OTHER COMPREHENSIVE LOSS Components of accumulated other comprehensive loss are as follows: (in thousands) Foreign Pension & Deferred Accumulated Balance at April 28, 2019 $ (37,247 ) $ (246,182 ) $ 5,294 $ (278,135 ) Unrecognized gains (losses) Gross (889 ) (1 ) 5,141 4,251 Tax effect — — (2,370 ) (2,370 ) Reclassification into Net Earnings Gross — 2,334 (1) (940 ) (2) 1,394 Tax effect — (565 ) 230 (335 ) Net of tax amount (889 ) 1,768 2,061 2,940 Balance at July 28, 2019 $ (38,136 ) $ (244,414 ) $ 7,355 $ (275,195 ) (in thousands) Foreign Currency Translation Pension & Other Benefits Deferred Gain (Loss) - Hedging Accumulated Other Comprehensive Loss Reported balance at October 28, 2018 $ (44,854 ) $ (197,613 ) $ (1,031 ) $ (243,498 ) Impact of adoption of ASU ASU 2017-12 — — (21 ) (3) (21 ) ASU 2018-02 — (53,778 ) (3) — (53,778 ) Adjusted balance at October 28, 2018 (44,854 ) (251,391 ) (1,052 ) (297,297 ) Unrecognized gains (losses) Gross 6,718 2,203 10,067 18,988 Tax effect — (533 ) (2,299 ) (2,832 ) Reclassification into Net Earnings Gross — 7,001 (1) 835 (2) 7,836 Tax effect — (1,694 ) (196 ) (1,890 ) Net of tax amount 6,718 6,977 8,407 22,102 Balance at July 28, 2019 $ (38,136 ) $ (244,414 ) $ 7,355 $ (275,195 ) (1) I ncluded in the computation of net periodic cost. See Note F - Pension and Other Post-Retirement Benefits for additional details. (2) Included in Cost of Products Sold in the Consolidated Statements of Operations. (3) Cumulative effect from the adoption of Accounting Standards Update. See Note A - General for additional details.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Jul. 28, 2019
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES The Company's tax provision is determined using an estimated annual effective tax rate and adjusted for discrete taxable events that may occur during the quarter. The effects of tax legislation are recognized in the period in which the law is enacted. The deferred tax assets and liabilities are remeasured using enacted tax rates expected to apply to taxable income in the years the related temporary differences are anticipated to reverse. On December 22, 2017, the United States (U.S.) enacted comprehensive tax legislation into law, H.R. 1, commonly referred to as the Tax Act. Except for certain provisions, the Tax Act is effective for tax years beginning on or after January 1, 2018. As a fiscal year U.S. taxpayer, the majority of the provisions, such as eliminating the domestic manufacturing deduction, creating new taxes on certain foreign sourced income, and introducing new limitations on certain business deductions, apply to the Company in fiscal 2019. In addition, for fiscal 2019 and effective in the first quarter, the U.S. federal corporate income tax rate was reduced from a blended rate of 23.4 percent for fiscal 2018, to 21.0 percent in fiscal 2019 and beyond. The Company's effective tax rate for the third quarter and first nine months of fiscal 2019 was 23.6 percent and 18.3 percent , respectively, compared to 18.4 percent and 12.6 percent for the respective periods last year. The Company expects a full-year effective tax rate between 18.3 percent and 20.3 percent for fiscal 2019. In March 2018, the FASB issued ASU 2018-05, Income Taxes: Amendments to SEC Paragraphs Pursuant to SEC Staff Accounting Bulletin No. 118 (Topic 740) , which provides guidance for companies related to the Tax Act. This ASU allows for a measurement period of up to one year after the enactment date of the Tax Act to finalize the recording of the related tax impacts. Based on current interpretation of the Tax Act, the Company made reasonable estimates to record provisional adjustments during fiscal 2018, as described above. The Company continued to evaluate such amounts within the first quarter of fiscal 2019 and determined no adjustments were required within the remaining portion of the measurement period. As of January 27, 2019, the Company has completed the accounting for the tax effects of the Tax Act. During fiscal 2018, the Company provisionally recorded the transition tax on its foreign earnings. Those foreign earnings have been deemed repatriated for U.S. federal tax purposes. The Company maintains all earnings are permanently reinvested. Accordingly, no additional income taxes have been provided for withholding tax, state tax, or other taxes. The amount of unrecognized tax benefits, including interest and penalties, is recorded in other long-term liabilities. If recognized as of July 28, 2019 , and July 29, 2018 , $ 28.5 million and $ 26.0 million, respectively, would impact the Company’s effective tax rate. The Company includes accrued interest and penalties related to uncertain tax positions in income tax expense. Interest and penalties included in income tax expense was immaterial for the third quarter and first nine months of fiscal 2019, compared to $0.2 million and $0.6 million for the respective periods in fiscal 2018. The amount of accrued interest and penalties at July 28, 2019 , and July 29, 2018 , associated with unrecognized tax benefits was $ 6.8 million and $ 6.3 million, respectively. The Company is regularly audited by federal and state taxing authorities. The United States Internal Revenue Service (I.R.S.) concluded its examination of fiscal 2017 in the second quarter of fiscal 2019. The Company has elected to participate in the Compliance Assurance Process (CAP) for fiscal years 2018 through 2020. The objective of CAP is to contemporaneously work with the I.R.S. to achieve federal tax compliance and resolve all or most of the issues prior to filing of the tax return. The Company may elect to continue participating in CAP for future tax years. The Company may withdraw from the program at any time. The Company is in various stages of audit by several state taxing authorities on a variety of fiscal years, as far back as 2011. While it is reasonably possible that one or more of these audits may be completed within the next 12 months and the related unrecognized tax benefits may change, based on the status of the examinations it is not possible to reasonably estimate the effect of any amount of such change to previously recorded uncertain tax positions.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
	Jul. 28, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION The Company issues stock options and restricted shares as part of its stock incentive plans for employees and non-employee directors. During the third quarter and nine months ended July 28, 2019 , stock-based compensation expense was $3.2 million and $16.7 million , respectively, compared to $6.3 million and $17.7 million for the third quarter and nine months ended July 29, 2018 , respectively. At July 28, 2019 , there was $31.3 million of total unrecognized compensation expense from stock-based compensation arrangements granted under the plans. This compensation is expected to be recognized over a weighted-average period of approximately 2.8 years. During the third quarter and nine months ended July 28, 2019 , cash received from stock option exercises was $3.8 million and $48.1 million , respectively, compared to $10.7 million and $40.7 million , for the third quarter and nine months ended July 29, 2018 , respectively. Shares issued for option exercises and restricted shares may be either authorized but unissued shares or shares of treasury stock. Stock Options: The Company’s policy is to grant options with the exercise price equal to the market price of the common stock on the date of grant. Options typically vest over four years and expire ten years after the date of the grant. The Company recognizes stock-based compensation expense ratably over the shorter of the requisite service period or vesting period. The fair value of stock-based compensation granted to retirement-eligible individuals is expensed at the time of grant. During the third quarter of fiscal 2018, the Company made a one-time grant of 200 stock options to each active, full-time employee and 100 stock options to each active, part-time employee of the Company on April 30, 2018. The options vest in five years and expire ten years after the grant date. A reconciliation of the number of options outstanding and exercisable (in thousands) as of July 28, 2019 , and changes during the nine months then ended, is as follows: Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding at October 28, 2018 29,536 $ 23.55 Granted 1,809 44.37 Exercised 3,790 12.70 Forfeited 660 36.37 Expired 5 35.87 Outstanding at July 28, 2019 26,890 26.16 5.3 $ 414,544 Exercisable at July 28, 2019 18,763 $ 21.09 4.0 $ 380,708 The weighted-average grant date fair value of stock options granted and the total intrinsic value of options exercised (in thousands) during the third quarter and first nine months of fiscal years 2019 and 2018 , are as follows. There were no stock options granted during the third quarter of fiscal year 2019. Three Months Ended Nine Months Ended July 28, July 29, July 28, July 29, Weighted-average grant date fair value $ — $ 7.33 $ 9.24 $ 7.16 Intrinsic value of exercised options $ 7,308 $ 25,136 $ 115,094 $ 96,950 The fair value of each option award is calculated on the date of grant using the Black-Scholes valuation model utilizing the following weighted-average assumptions: 0.029 Three Months Ended Nine Months Ended July 28, July 29, July 28, July 29, Risk-free interest rate — 2.9 % 2.8 % 2.7 % Dividend yield — 2.1 % 1.9 % 2.1 % Stock price volatility — 19.0 % 19.0 % 19.0 % Expected option life — 8 years 8 years 8 years As part of the annual valuation process, the Company reassesses the appropriateness of the inputs used in the valuation models. The Company establishes the risk-free interest rate using stripped U.S. Treasury yields as of the grant date where the remaining term is approximately the expected life of the option. The dividend yield is based on the dividend rate approved by the Company’s Board of Directors and the stock price on the grant date. The expected volatility assumption is based primarily on historical volatility. As a reasonableness test, implied volatility from exchange traded options is also examined to validate the volatility range obtained from the historical analysis. The expected life assumption is based on an analysis of past exercise behavior by option holders. In performing the valuations for option grants, the Company has not stratified option holders as exercise behavior has historically been consistent across all employee and non-employee director groups. Restricted Shares: Restricted shares awarded to non-employee directors annually on February 1 are subject to a restricted period which expires the date of the Company’s next annual stockholders meeting. Newly elected directors receive a prorated award of restricted shares of the Company's common stock, which expires on the date of the Company's second succeeding annual stockholders meeting. A reconciliation of the restricted shares (in thousands) as of July 28, 2019 , and changes during the nine months then ended, is as follows: Shares Weighted- Average Grant Date Fair Value Restricted at October 28, 2018 52 $ 34.08 Granted 51 42.23 Vested 52 34.08 Restricted at July 28, 2019 51 $ 42.23 The weighted-average grant date fair value of restricted shares granted, the total fair value (in thousands) of restricted shares granted, and the fair value (in thousands) of shares that have vested during the first nine months of fiscal years 2019 and 2018 , are as follows: Nine Months Ended July 28, July 29, Weighted-average grant date fair value $ 42.23 $ 34.08 Fair value of restricted shares granted 2,134 1,760 Fair value of shares vested 1,760 2,053

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	9 Months Ended
	Jul. 28, 2019
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Pursuant to the provisions of ASC 820, Fair Value Measurements and Disclosures (ASC 820), the Company measures certain assets and liabilities at fair value or discloses the fair value of certain assets and liabilities recorded at cost in the consolidated financial statements. Fair value is calculated as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). ASC 820 establishes a fair value hierarchy which requires assets and liabilities measured at fair value to be categorized into one of three levels based on the inputs used in the valuation. The Company classifies assets and liabilities in their entirety based on the lowest level of input significant to the fair value measurement. The three levels are defined as follows: Level 1: Observable inputs based on quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Observable inputs, other than those included in Level 1, based on quoted prices for similar assets and liabilities in active markets, or quoted prices for identical assets and liabilities in inactive markets. Level 3: Unobservable inputs that reflect an entity’s own assumptions about what inputs a market participant would use in pricing the asset or liability based on the best information available in the circumstances. The Company’s financial assets and liabilities carried at fair value on a recurring basis as of July 28, 2019 , and October 28, 2018 , and their level within the fair value hierarchy, are presented in the tables below. Fair Value Measurements at July 28, 2019 (in thousands) Total Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets at Fair Value Cash and cash equivalents (1) $ 560,199 $ 559,009 $ 1,190 $ — Short-term marketable securities (2) 14,064 4,683 9,381 — Other trading securities (3) 157,114 — 157,114 — Commodity derivatives (4) 9,555 9,347 208 — Total Assets at Fair Value $ 740,932 $ 573,039 $ 167,893 $ — Liabilities at Fair Value Deferred compensation (3) $ 61,309 $ — $ 61,309 $ — Total Liabilities at Fair Value $ 61,309 $ — $ 61,309 $ — Fair Value Measurements at October 28, 2018 (in thousands) Total Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets at Fair Value Cash and cash equivalents (1) $ 459,136 $ 459,136 $ — $ — Other trading securities (3) 137,311 — 137,311 — Commodity derivatives (4) 4,611 4,611 — — Total Assets at Fair Value $ 601,058 $ 463,747 $ 137,311 $ — Liabilities at Fair Value Deferred compensation (3) $ 60,181 $ — $ 60,181 $ — Total Liabilities at Fair Value $ 60,181 $ — $ 60,181 $ — The following methods and assumptions were used to estimate the fair value of the financial assets and liabilities above: (1) The Company’s cash equivalents considered Level 1 consist primarily of bank deposits, money market funds rated AAA, or other highly liquid investment accounts, and have a maturity date of three months or less. Cash equivalents considered Level 2 are funds holding agency bonds or securities booked at amortized cost. (2) The Company holds securities as part of a portfolio maintained to generate investment income and to provide cash for operations of the Company, if necessary. The portfolio is managed by a third party who is responsible for daily trading activities, and all assets within the portfolio are highly liquid. The cash, U.S. government securities, and money market funds rated AAA held by the portfolio are classified as Level 1. The current investment portfolio also includes corporate bonds and other asset backed securities for which there is an active, quoted market. Market prices are obtained from a variety of industry providers, large financial institutions, and other third-party sources to calculate a representative daily market value, and therefore, these securities are classified as Level 2. (3) A majority of the funds held in the rabbi trust relate to the supplemental executive retirement plans and have been invested in fixed income funds managed by a third party. The declared rate on these funds is set based on a formula using the yield of the general account investment portfolio supporting the fund, adjusted for expenses and other charges. The rate is guaranteed for one year at issue, and may be reset annually on the policy anniversary, subject to a guaranteed minimum rate. As the value is based on adjusted market rates, and the fixed rate is only reset on an annual basis, these funds are classified as Level 2. The funds held in the rabbi trust are included in Other Assets on the Consolidated Statements of Financial Position. The remaining funds held are also managed by a third-party insurance policy, the values of which represent their cash surrender value based on the fair value of the underlying investments in the account and include equity securities, money market accounts, bond funds, or other portfolios for which there is an active quoted market. Therefore, these policies are also classified as Level 2. The related deferred compensation liabilities are included in other long-term liabilities on the Consolidated Statements of Financial Position with investment options generally mirroring those funds held by the rabbi trust. Therefore, these investment balances are classified as Level 2. The Company also offers a fixed rate investment option to participants. The rate earned on these investments is adjusted annually based on a specified percentage of the I.R.S. applicable federal rates. These balances are classified as Level 2. (4) The Company’s commodity derivatives represent futures contracts and options used in its hedging or other programs to offset price fluctuations associated with purchases of corn, soybean meal, and hogs, and to minimize the price risk assumed when forward priced contracts are offered to the Company’s commodity suppliers. The Company’s futures contracts for corn and soybean meal are traded on the Chicago Board of Trade, while futures contracts for lean hogs are traded on the Chicago Mercantile Exchange. These are active markets with quoted prices available, and these contracts are classified as Level 1. Over-the-counter (OTC) derivative instruments are valued using discounted cashflow models, observable market inputs, and other mathematical pricing models. The Company’s lean hog option contracts are OTC instruments whose value is calculated using the Black-Scholes pricing model, lean hog future prices quoted from the Chicago Mercantile Exchange, and other adjustments to inputs that are observable in active markets. As the value of these instruments is driven by observable prices in active markets they are classified as Level 2. All derivatives are reviewed for potential credit risk and risk of nonperformance. The Company nets the derivative assets and liabilities for each of its hedging programs, including cash collateral, when a master netting arrangement exists between the Company and the counterparty to the derivative contract. The net balance for each program is included in other current assets or accounts payable, as appropriate, in the Consolidated Statements of Financial Position. As of July 28, 2019 , the Company has recognized the right to reclaim net cash collateral of $2.2 million from various counterparties (including $9.7 million of realized gains on closed positions offset by cash owed of $7.5 million ). As of October 28, 2018 , the Company had recognized the right to reclaim net cash collateral of $4.6 million from various counterparties (including cash of $4.7 million less $0.1 million of realized losses). The Company’s financial assets and liabilities include accounts receivable, accounts payable, and other liabilities, for which carrying value approximates fair value. The Company does not carry its long-term debt at fair value in its Consolidated Statements of Financial Position. Based on borrowing rates available to the Company for long-term financing with similar terms and average maturities, the fair value of long-term debt, utilizing discounted cash flows (Level 2), was $260.0 million as of July 28, 2019 , and $631.3 million as of October 28, 2018 . In accordance with the provisions of ASC 820, the Company measures certain nonfinancial assets and liabilities at fair value, which are recognized or disclosed on a nonrecurring basis (e.g. goodwill, intangible assets, and property, plant and equipment). During the nine months ended July 28, 2019 , and July 29, 2018

EARNINGS PER SHARE DATA

EARNINGS PER SHARE DATA	9 Months Ended
	Jul. 28, 2019
Earnings Per Share [Abstract]
EARNINGS PER SHARE DATA	EARNINGS PER SHARE DATA The reported net earnings attributable to the Company were used when computing basic and diluted earnings per share. The following table sets forth the shares used as the denominator for those computations: Three Months Ended Nine Months Ended (in thousands) July 28, July 29, July 28, July 29, Basic weighted-average shares outstanding 534,188 530,606 534,721 529,953 Dilutive potential common shares 9,490 13,156 10,988 13,399 Diluted weighted-average shares outstanding 543,678 543,762 545,709 543,352 For the third quarter and nine months ended July 28, 2019 , a total of 5.9 million and 3.0 million weighted-average stock options, respectively, were not included in the computation of dilutive potential common shares since their inclusion would have an antidilutive effect on earnings per share, compared to 10.6 million and 7.6 million , respectively, for the third quarter and nine months ended July 29, 2018 .

SEGMENT REPORTING

SEGMENT REPORTING	9 Months Ended
	Jul. 28, 2019
Segment Reporting [Abstract]
SEGMENT REPORTING	SEGMENT REPORTING The Company develops, processes, and distributes a wide array of food products in a variety of markets. The Company reports its results in the following four segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other. At the beginning of fiscal 2019, the Hormel Deli Solutions division combined all deli businesses, including the Jennie-O Turkey Store deli division, into one division within the Refrigerated Foods segment. In addition, the ingredients business was realigned from the Grocery Products segment to the Refrigerated Foods segment. Fiscal 2018 segment results have been adjusted to reflect these changes. The Grocery Products segment consists primarily of the processing, marketing, and sale of shelf-stable food products sold predominantly in the retail market, along with the sale of nutritional and private label shelf-stable products to retail, foodservice, and industrial customers. This segment also includes the results from the Company’s MegaMex joint venture. The Refrigerated Foods segment consists primarily of the processing, marketing, and sale of branded and unbranded pork, beef, and poultry products for retail, foodservice, deli, and commercial customers. The Jennie-O Turkey Store segment consists primarily of the processing, marketing, and sale of branded and unbranded turkey products for retail, foodservice, and fresh product customers. The International & Other segment includes Hormel Foods International, which manufactures, markets, and sells Company products internationally. This segment also includes the results from the Company’s international joint ventures and royalty arrangements. Intersegment sales are recorded at prices that approximate cost and are eliminated in the Consolidated Statements of Operations. The Company does not allocate investment income, interest expense, or interest income to its segments when measuring performance. The Company also retains various other income and expenses at the corporate level. Equity in earnings of affiliates is included in segment profit; however, earnings attributable to the Company’s noncontrolling interests are excluded. These items are included below as Net Unallocated Expense and Noncontrolling Interest when reconciling to Earnings Before Income Taxes. Sales and profits for each of the Company’s reportable segments and reconciliation to earnings before income taxes are set forth below. The Company is an integrated enterprise, characterized by substantial intersegment cooperation, cost allocations, and sharing of assets. Therefore, the Company does not represent these segments, if operated independently, would report the profit and other financial information shown below. Three Months Ended Nine Months Ended (in thousands) July 28, July 29, July 28, July 29, Sales to Unaffiliated Customers Grocery Products $ 543,088 $ 607,054 $ 1,785,232 $ 1,832,123 Refrigerated Foods 1,301,101 1,288,394 3,837,732 3,788,097 Jennie-O Turkey Store 298,781 316,100 925,271 942,735 International & Other 147,735 147,594 447,569 458,048 Total $ 2,290,705 $ 2,359,142 $ 6,995,804 $ 7,021,003 Intersegment Sales Grocery Products $ 10 $ 14 $ 32 $ 28 Refrigerated Foods 5,282 1,660 10,733 5,210 Jennie-O Turkey Store 31,804 28,069 90,665 78,297 International & Other — — — — Total 37,096 29,743 101,430 83,535 Intersegment elimination (37,096 ) (29,743 ) (101,430 ) (83,535 ) Total $ — $ — $ — $ — Net Sales Grocery Products $ 543,098 $ 607,068 $ 1,785,264 $ 1,832,151 Refrigerated Foods 1,306,383 1,290,054 3,848,465 3,793,307 Jennie-O Turkey Store 330,585 344,169 1,015,936 1,021,032 International & Other 147,735 147,594 447,569 458,048 Intersegment elimination (37,096 ) (29,743 ) (101,430 ) (83,535 ) Total $ 2,290,705 $ 2,359,142 $ 6,995,804 $ 7,021,003 Segment Profit Grocery Products $ 58,778 $ 83,433 $ 258,574 $ 274,184 Refrigerated Foods 171,795 151,924 492,476 476,375 Jennie-O Turkey Store 21,278 23,305 76,931 93,102 International & Other 18,755 18,646 58,058 64,151 Total segment profit 270,606 277,308 886,039 907,812 Net unallocated expense 9,584 19,686 297 48,384 Noncontrolling interest (22 ) 110 279 352 Earnings Before Income Taxes $ 261,000 $ 257,732 $ 886,021 $ 859,780 Revenue has been disaggregated into the categories below to show how sales channels affect the nature, amount, timing, and uncertainty of revenue and cash flows for the third quarter and first nine months of fiscal 2019 and 2018. Three Months Ended Nine Months Ended (in thousands) July 28, July 29, July 28, July 29, U.S. Retail $ 1,163,367 $ 1,221,398 $ 3,672,189 $ 3,778,544 U.S. Foodservice 729,321 729,247 2,135,633 2,060,594 U.S. Deli 229,386 240,777 693,377 672,252 International 168,631 167,720 494,605 509,613 Total $ 2,290,705 $ 2,359,142 $ 6,995,804 $ 7,021,003 The Company’s products primarily consist of meat and other food products. Perishable includes fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamole, and bacon (excluding Jennie-O Turkey Store products). Shelf-stable includes canned luncheon meats, peanut butter, chilies, shelf-stable microwaveable meals, hash, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other items that do not require refrigeration. The Poultry category is composed primarily of Jennie-O Turkey Store products. The Miscellaneous category primarily consists of nutritional food products and supplements, dessert and drink mixes, and industrial gelatin products. The Miscellaneous category includes CytoSport. The reduction in this category during fiscal 2019 is due to the divestiture of CytoSport on April 15, 2019. The amount of total revenues contributed by classes of similar products for the third quarter and first nine months of fiscal 2019 and 2018 are as follows: Three Months Ended Nine Months Ended (in thousands) July 28, July 29, July 28, July 29, Perishable $ 1,355,765 $ 1,325,886 $ 4,014,372 $ 3,948,767 Shelf-stable 417,535 428,133 1,299,263 1,297,474 Poultry 427,622 453,926 1,296,677 1,325,037 Miscellaneous 89,783 151,197 385,492 449,725 Total $ 2,290,705 $ 2,359,142 $ 6,995,804 $ 7,021,003

GENERAL (Policies)

GENERAL (Policies)	9 Months Ended
	Jul. 28, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation:
Investments	Investments:
Supplemental Cash Flow Information	Supplemental Cash Flow Information: Non-cash investment activities presented on the Consolidated Statements of Cash Flows primarily consist of unrealized gains or losses on the Company’s rabbi trust. The noted investments are included in Other Assets on the Consolidated Statements of Financial Position. Changes in the value of these investments are included in the Company’s Net Earnings and are presented in the Consolidated Statements of Operations as Interest and Investment Income.
Guarantees	Guarantees: The Company enters into various agreements guaranteeing specified obligations of affiliated parties. The Company’s guarantees either terminate in one year
Reclassifications	Reclassifications:
Accounting Changes and Recent Accounting Pronouncements	Accounting Changes and Recent Accounting Pronouncements: New Accounting Pronouncements Adopted in Current Fiscal Year In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) . This topic converges the guidance within U.S. GAAP and international financial reporting standards and supersedes ASC 605, Revenue Recognition . The new standard requires companies to recognize revenue to depict the transfer of goods or services to customers in amounts that reflect the consideration to which the company expects to be entitled in exchange for those goods or services. The new standard will also result in enhanced disclosures about revenue, provide guidance for transactions which were not previously addressed comprehensively, and improve guidance for multiple-element arrangements. The new guidance is effective for annual reporting periods beginning after December 15, 2017. The updated guidance is to be applied either retrospectively or by using a cumulative effect adjustment. The Company adopted the provisions of the new standard using the full retrospective method at the beginning of fiscal 2019. The Company made the following policy elections upon adoption: to account for shipping and handling costs as contract fulfillment costs and to exclude taxes imposed on and collected from customers in revenue producing transactions (e.g., sales, use, and value added taxes) from the transaction price. The Company will account for variable consideration using the expected value method. The Company also applied the practical expedient to not capitalize contract costs to obtain contracts with a duration of one year or less, which are expensed and included in the Consolidated Statements of Operations. The Company did not have a cumulative effect adjustment as a result of adoption. Adoption of the new standard did not have a material impact on the Company’s results of operations. Additional qualitative disclosures have been provided in Note B - Revenue Recognition and further disaggregation of revenues provided in Note N - Segment Reporting. In October 2016, the FASB issued ASU 2016-16, Income Taxes - Intra-Entity Transfers of Assets Other Than Inventory (Topic 740) . The updated guidance requires the recognition of the income tax consequences of an intra-entity asset transfer, other than transfers of inventory, when the transfer occurs. For intra-entity transfers of inventory, the income tax effects will continue to be deferred until the inventory has been sold to a third party. The updated guidance is effective for reporting periods beginning after December 15, 2017, with early adoption permitted only within the first interim period of a fiscal year. The guidance is required to be applied on a modified retrospective basis through a cumulative effect adjustment directly to retained earnings as of the beginning of the period of adoption. The Company adopted the updated provisions at the beginning of fiscal 2019, resulting in a reclassification from prepaid tax assets to deferred tax assets. In addition, due to the impact of the lower tax rate on deferred tax balances resulting from the Tax Cuts and Jobs Act (Tax Act), the Company recognized a cumulative effect adjustment to Retained Earnings of $10.5 million . In March 2017, the FASB issued ASU 2017-07, Compensation - Retirement Benefits: Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost (Topic 715) . The updated guidance requires an employer to report the service cost component of net periodic pension cost and net periodic post-retirement benefit cost in the same line item as other compensation costs. Other components of net periodic pension cost and net periodic post-retirement benefit cost must be presented in the income statement separately from the service cost component and outside income from operations. Additionally, only the service cost component is eligible for capitalization. This guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2017. The updated guidance should be applied retrospectively for the presentation of components of net benefit cost and prospectively, for the capitalization of the service cost component of net benefit cost. The Company adopted the updated provisions at the beginning of fiscal 2019. The Company elected to utilize a practical expedient which allows the Company to use historical amounts disclosed in the Pension and Other Post-retirement Benefits footnote as an estimation basis for retrospectively applying the requirements to separately report the other components in the income statement. Due to the retrospective adoption, the Company reclassified $4.9 million and $14.1 million of non-service cost components of net periodic benefit costs out of Operating Income to Interest and Investment Income on the Consolidated Statements of Operations for the three months and nine months ended July 29, 2018. In August 2017, the FASB issued ASU 2017-12, Derivatives and Hedging - Targeted Improvements to Accounting for Hedging Activities (Topic 815) . The updated guidance expands an entity’s ability to hedge nonfinancial and financial risk components and reduce complexity in fair value hedges of interest rate risk. The guidance eliminates the requirement to separately measure and report hedge ineffectiveness and generally requires the entire change in the fair value of a hedging instrument to be presented in the same income statement line as the hedged item. The guidance also eases certain documentation and assessment requirements and modifies the accounting for components excluded from the assessment of hedge effectiveness. Entities will apply the amendments to cash flow and net investment hedge relationships that exist on the date of adoption using a modified retrospective approach. The presentation and disclosure requirements apply prospectively. The updated guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those years. Early adoption is permitted in any interim or annual period. The Company early adopted the updated guidance at the beginning of fiscal 2019, therefore eliminating the requirement to separately measure and report hedge ineffectiveness. The Company applied the amendment to cash flow hedge relationships existing on the date of adoption using a modified retrospective approach. Presentation and disclosure requirements were applied on a prospective basis. The adoption resulted in an immaterial adjustment from Retained Earnings to Accumulated Other Comprehensive Loss. In February 2018, the FASB issued ASU 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220). The updated guidance allows entities to reclassify stranded income tax effects resulting from the Tax Act from accumulated other comprehensive income to retained earnings in their consolidated financial statements. Under the Tax Act, deferred taxes were adjusted to reflect the reduction of the historical corporate income tax rate to the newly enacted corporate income tax rate, which left the tax effects on items within accumulated other comprehensive income stranded at an inappropriate tax rate. The updated guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those years. Early adoption is permitted in any interim period and should be applied either in the period of adoption or retrospectively to each period (or periods) in which the effect of the change in the U.S. federal corporate income tax rate in the Tax Act is recognized. The Company early adopted the updated provisions at the beginning of fiscal 2019, resulting in a reclassification of $53.8 million to Accumulated Other Comprehensive Loss. In August 2018, the FASB issued ASU No. 2018-15, Intangibles - Goodwill and Other - Internal-Use Software: Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (Topic 350). The amendments in the update align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software (and hosting arrangements that include an internal-use software license). The amendments are effective for fiscal years beginning after December 15, 2019, and for interim periods within those fiscal years and is to be applied either retrospectively or prospectively to all implementation costs incurred after the adoption date. Early adoption is permitted, including adoption in any interim period. The Company early adopted the updated provisions on a prospective basis at the beginning of fiscal 2019. Subsequent to adoption, the Company has capitalized $13.1 million in cloud implementation costs, primarily associated with the transition to Oracle Cloud Solutions. New Accounting Pronouncements Not Yet Adopted In February 2016, the FASB issued ASU 2016-02, Leases (Topic 842) . The updated guidance requires lessees to recognize a right-of-use asset and lease liability for all leases with terms of more than 12 months. Recognition, measurement, and presentation of expenses will depend on the classification as a finance or operating lease. The update also requires certain quantitative and qualitative disclosures. Accounting guidance for lessors is largely unchanged. The requirements of the new standard are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company will adopt the provisions of this new accounting standard at the beginning of fiscal 2020. The Company has elected the package of practical expedients to not reassess prior conclusions related to contracts containing leases, lease classification, and initial direct costs. In July 2018, the FASB issued ASU 2018-11, which provides an optional transition method allowing entities the option to use the effective date as the date of initial application on transition. The Company is electing this transition method, and as a result, the Company will not adjust its comparative period financial information or make the new required lease disclosures for periods before the effective date. The Company has elected to not separate lease and non-lease components. The Company will not elect the hindsight practical expedient. In connection with the adoption of the new lease accounting standard, the Company has completed scoping reviews and has made progress in developing business process, accounting policies, and internal controls. The Company has implemented new lease accounting software to provide a centralized repository and assist in the preparation of the standard's additional reporting requirements. Based on the assessment to-date, the Company expects an increase to assets and an offsetting increase to liabilities on the Consolidated Statements of Financial Position. The Company expects the lease standard to have an immaterial impact on the Consolidated Statements of Operations and the Consolidated Statements of Cash Flows. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses: Measurement of Credit Losses on Financial Instruments (Topic 958) . The update provides guidance on the measurement of credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. The amendment replaces the current incurred loss impairment approach with a methodology to reflect expected credit losses and requires consideration of a broader range of reasonable and supportable information to explain credit loss estimates. The updated guidance is to be applied on a modified retrospective approach and is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted for all entities for fiscal years beginning after December 15, 2018, and interim periods therein. The Company will adopt the provisions of this new accounting standard at the beginning of fiscal 2021 and is in the process of evaluating the impact. In July 2018, the FASB issued ASU 2018-09, Codification Improvements . This amendment makes changes to a variety of topics to clarify, correct errors in, or make minor improvements to the Accounting Standards Codification (ASC). The transition and effective date guidance is based on the facts and circumstances of each amendment. Some of the amendments do not require transition guidance and will be effective upon issuance of ASU 2018-09. The amendments effective upon issuance did not have a material impact on the Company's consolidated financial statements. A majority of the amendments do have transition guidance with effective dates for annual periods beginning after December 15, 2018. The Company is in the process of evaluating the timing and impact of adopting the remaining amendments. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement - Disclosure Framework (Topic 820). The updated guidance improves the disclosure requirements on fair value measurements. The updated guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Early adoption is permitted for any removed or modified disclosures. The Company is currently assessing the timing and impact of adopting the updated provisions. In August 2018, the FASB issued ASU 2018-14, Compensation - Retirement Benefits - Defined Benefit Plans (Topic 715) . The updated guidance improves disclosure requirements for employers who sponsor defined benefit pension or other postretirement plans. The amendments are effective for fiscal years ending after December 15, 2020, with early adoption permitted. The Company is currently assessing the timing and impact of adopting the updated provisions. Any other recently issued accounting standards or pronouncements not disclosed above have been excluded as they either are not relevant to the Company, or they are not expected to have a material effect on its business practices, financial condition, results of operations, or disclosures.
Revenue from Contracts with Customers	Revenue from Contracts with Customers: Effective October 29, 2018, the Company adopted ASC 606, Revenue from Contracts with Customers using the full retrospective adoption method. The impact of adopting this guidance was immaterial to the Company’s financial statements and related disclosures. Under ASC 606, a contract with a customer is an agreement which both parties have approved, that creates enforceable rights and obligations, has commercial substance, where payment terms are identified, and collectability is probable. The Company’s customer contracts predominantly contain a single performance obligation to fulfill customer orders for the purchase of specified products. A performance obligation is a promise in a contract to transfer a distinct good or service to the customer. Revenue from product sales is primarily identified by purchase orders (“contracts”) which in some cases are governed by a master sales agreement. The purchase orders in combination with the invoice typically specify quantity and product(s) ordered, shipping terms, and certain aspects of the transaction price including discounts. Contracts are at standalone pricing or governed by pricing lists or brackets. The Company’s revenue is recognized when obligations under the terms of the agreement are satisfied. This is typically once the shipped product is received or picked up by the customer. Revenues are recognized at the net consideration the Company expects to receive in exchange for the goods. The amount of net consideration recognized includes estimates of variable consideration, including costs for trade promotion programs, consumer incentives, and allowances and discounts associated with distressed or potentially unsaleable products. A majority of the Company’s revenue is short-term in nature with shipments within one year from order date. The Company's payment terms generally range between 7 to 45 days and vary by sales channel and other factors. The Company promotes products through advertising, consumer incentives, and trade promotions. These programs include discounts, slotting fees, coupons, rebates, and in-store display incentives. Customer trade promotion and consumer incentive activities are recorded as a reduction to the sale price based on amounts estimated as variable consideration. The Company estimates variable consideration at the expected value method to determine the total consideration which the Company expects to be entitled. Estimated amounts are included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is resolved. The Company’s estimates of variable consideration and determination of whether to include estimated amounts in the transaction price are based largely on an assessment of anticipated performance and all information (historical, current and forecasted) that is reasonably available. The Company elected to account for shipping and handling costs as contract fulfillment costs, and exclude taxes imposed on and collected from customers in revenue producing transactions (e.g., sales, use, and value added taxes) from the transaction price. Disaggregation of Revenue: The Company discloses revenue by reportable segment. A reconciliation of these disaggregated revenues is provided in Note N - Segment Reporting. Contract Balances: The Company does not have significant deferred revenue or unbilled receivable balances as a result of transactions with customers. Contract Costs: The Company elected to apply the practical expedient to not capitalize contract costs to obtain contracts with duration of one year or less, which are expensed and included in the Consolidated Statements of Operations.
Fair Value Measurements	Pursuant to the provisions of ASC 820, Fair Value Measurements and Disclosures (ASC 820), the Company measures certain assets and liabilities at fair value or discloses the fair value of certain assets and liabilities recorded at cost in the consolidated financial statements. Fair value is calculated as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). ASC 820 establishes a fair value hierarchy which requires assets and liabilities measured at fair value to be categorized into one of three levels based on the inputs used in the valuation. The Company classifies assets and liabilities in their entirety based on the lowest level of input significant to the fair value measurement. The three levels are defined as follows: Level 1: Observable inputs based on quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Observable inputs, other than those included in Level 1, based on quoted prices for similar assets and liabilities in active markets, or quoted prices for identical assets and liabilities in inactive markets. Level 3: Unobservable inputs that reflect an entity’s own assumptions about what inputs a market participant would use in pricing the asset or liability based on the best information available in the circumstances.
Segment Reporting	The Company develops, processes, and distributes a wide array of food products in a variety of markets. The Company reports its results in the following four segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other. At the beginning of fiscal 2019, the Hormel Deli Solutions division combined all deli businesses, including the Jennie-O Turkey Store deli division, into one division within the Refrigerated Foods segment. In addition, the ingredients business was realigned from the Grocery Products segment to the Refrigerated Foods segment. Fiscal 2018 segment results have been adjusted to reflect these changes. The Grocery Products segment consists primarily of the processing, marketing, and sale of shelf-stable food products sold predominantly in the retail market, along with the sale of nutritional and private label shelf-stable products to retail, foodservice, and industrial customers. This segment also includes the results from the Company’s MegaMex joint venture. The Refrigerated Foods segment consists primarily of the processing, marketing, and sale of branded and unbranded pork, beef, and poultry products for retail, foodservice, deli, and commercial customers. The Jennie-O Turkey Store segment consists primarily of the processing, marketing, and sale of branded and unbranded turkey products for retail, foodservice, and fresh product customers. The International & Other segment includes Hormel Foods International, which manufactures, markets, and sells Company products internationally. This segment also includes the results from the Company’s international joint ventures and royalty arrangements. Intersegment sales are recorded at prices that approximate cost and are eliminated in the Consolidated Statements of Operations. The Company does not allocate investment income, interest expense, or interest income to its segments when measuring performance. The Company also retains various other income and expenses at the corporate level. Equity in earnings of affiliates is included in segment profit; however, earnings attributable to the Company’s noncontrolling interests are excluded. These items are included below as Net Unallocated Expense and Noncontrolling Interest when reconciling to Earnings Before Income Taxes.

ACQUISITIONS AND DIVESTITURES (

ACQUISITIONS AND DIVESTITURES (Tables)	9 Months Ended
	Jul. 28, 2019
Business Combinations [Abstract]
Schedule of purchase price allocation	A final allocation of the purchase price to the acquired assets, liabilities, and goodwill is presented in the table below. (in thousands) Accounts receivable $ 21,199 Inventory 32,817 Prepaid and other assets 881 Other assets 936 Property, plant and equipment 83,662 Intangible assets 223,704 Goodwill 610,602 Current liabilities (21,366 ) Deferred taxes (95,077 ) Purchase price $ 857,358

INVENTORIES (Tables)

INVENTORIES (Tables)	9 Months Ended
	Jul. 28, 2019
Inventory, Net [Abstract]
Principal components of inventories	Principal components of inventories are: (in thousands) July 28, October 28, Finished products $ 665,028 $ 525,628 Raw materials and work-in-process 254,629 247,495 Operating supplies 122,712 126,644 Maintenance materials and parts 66,145 63,760 Total $ 1,108,514 $ 963,527

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	9 Months Ended
	Jul. 28, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of changes in the carrying amount of goodwill	The changes in the carrying amounts of goodwill for the three and nine months ended July 28, 2019 , are presented in the table below. The reduction in goodwill during fiscal 2019 is due to the divestiture of CytoSport on April 15, 2019. Beginning balances have been reclassified to conform to the current year presentation between segments. See Note N - Segment Reporting and Note C - Acquisitions and Divestitures for additional information. (in thousands) Grocery Refrigerated Jennie-O Turkey Store International Total Balance at April 28, 2019 $ 632,301 $ 1,458,692 $ 176,628 $ 219,014 $ 2,486,635 Foreign currency translation — — — 654 654 Balance at July 28, 2019 $ 632,301 $ 1,458,692 $ 176,628 $ 219,668 $ 2,487,289 (in thousands) Grocery Products Refrigerated Foods Jennie-O Turkey Store International & Other Total Reported balance at October 28, 2018 $ 882,582 $ 1,406,897 $ 203,214 $ 221,423 $ 2,714,116 Segment reclassification (25,209 ) 51,795 (26,586 ) — — Adjusted balance at October 28, 2018 857,373 1,458,692 176,628 221,423 2,714,116 Goodwill sold (225,072 ) — — (4,945 ) (230,017 ) Foreign currency translation — — — 3,190 3,190 Balance at July 28, 2019 $ 632,301 $ 1,458,692 $ 176,628 $ 219,668 $ 2,487,289
Schedule of carrying amounts for indefinite-lived intangible assets	The carrying amounts for indefinite-lived intangible assets are presented in the table below. (in thousands) July 28, October 28, Brands/tradenames/trademarks $ 959,400 $ 1,108,122 Other intangibles 184 184 Foreign currency translation (2,830 ) (3,484 ) Total $ 956,754 $ 1,104,822
Schedule of gross carrying amount and accumulated amortization for definite-lived intangible assets	The gross carrying amount and accumulated amortization for definite-lived intangible assets are presented in the table below. July 28, 2019 October 28, 2018 (in thousands) Gross Carrying Amount Accumulated Amortization Gross Carrying Amount Accumulated Amortization Customer lists/relationships $ 113,739 $ (34,418 ) $ 137,039 $ (36,367 ) Other intangibles 6,957 (2,494 ) 6,155 (1,547 ) Foreign currency translation — (2,411 ) — (2,883 ) Total $ 120,696 $ (39,323 ) $ 143,194 $ (40,797 )
Schedule of estimated annual amortization expense	Estimated annual amortization expense for the five fiscal years after October 28, 2018 , is as follows: (in millions) 2019 $11.7 2020 10.7 2021 10.7 2022 10.4 2023 9.5

PENSION AND OTHER POST-RETIRE_2

PENSION AND OTHER POST-RETIREMENT BENEFITS (Tables)	9 Months Ended
	Jul. 28, 2019
Retirement Benefits [Abstract]
Schedule of net periodic cost of defined benefit plans	Net periodic benefit cost for pension and other post-retirement benefit plans consists of the following: Pension Benefits Three Months Ended Nine Months Ended (in thousands) July 28, July 29, July 28, July 29, Service cost $ 6,510 $ 7,903 $ 19,531 $ 23,709 Interest cost 15,097 14,045 45,289 42,144 Expected return on plan assets (23,123 ) (24,776 ) (69,369 ) (74,317 ) Amortization of prior service cost (699 ) (617 ) (2,096 ) (1,851 ) Recognized actuarial loss 3,702 4,548 11,104 13,626 Curtailment loss (gain) — — 2,825 — Net periodic cost $ 1,487 $ 1,103 $ 7,284 $ 3,311 Post-retirement Benefits Three Months Ended Nine Months Ended (in thousands) July 28, July 29, July 28, July 29, Service cost $ 173 $ 98 $ 520 $ 739 Interest cost 3,007 2,692 9,181 8,356 Amortization of prior service cost (669 ) (812 ) (2,007 ) (2,233 ) Recognized actuarial loss — 44 — 133 Curtailment loss (gain) — — (620 ) — Net periodic cost $ 2,511 $ 2,022 $ 7,074 $ 6,995

DERIVATIVES AND HEDGING (Tables

DERIVATIVES AND HEDGING (Tables)	9 Months Ended
	Jul. 28, 2019
Derivative [Line Items]
Schedule of fair values of derivative instruments	The fair values of the Company’s derivative instruments (in thousands) as of July 28, 2019 , and October 28, 2018 , were as follows: Fair Value (1) Derivatives Designated as Hedges: Location on Consolidated Statements of Financial Position July 28, October 28, Commodity contracts Other Current Assets $ 7,478 $ (30 ) (1) Amounts represent the gross fair value of derivative assets and liabilities. The Company nets the derivative assets and liabilities for each of its hedging programs, including cash collateral, when a master netting arrangement exists between the Company and the counterparty to the derivative contract. The amount or timing of cash collateral balances may impact the classification of the derivative in the Consolidated Statements of Financial Position. See Note L - Fair Value Measurements for a discussion of these net amounts as reported in the Consolidated Statements of Financial Position.
Schedule of fair value hedge assets (liabilities)	The carrying amount (in thousands) of the Company's fair value hedge assets (liabilities) as of July 28, 2019 , and October 28, 2018 , were as follows: Location on Consolidated Statements of Financial Position Carrying Amount of the Hedged Assets/(Liabilities) July 28, October 28, 2018 Accounts Payable $ 1,234 $ (594 )
Schedule of gains or losses (before tax) related to derivative instruments	The effect of AOCL for gains or losses (before tax, in thousands) related to the Company's derivative instruments for the three months ended July 28, 2019 , and July 29, 2018 , were as follows: Gain/(Loss) Recognized in AOCL (1) Location on Consolidated Statements of Operations Gain/(Loss) Reclassified from AOCL into Earnings (1) Gain/(Loss) Recognized in Earnings (Ineffective Portion) Three Months Ended Three Months Ended Three Months Ended Cash Flow Hedges: July 28, 2019 July 29, 2018 July 28, 2019 July 29, 2018 July 28, 2019 July 29, 2018 Commodity Contracts $ 9,883 $ (12,620 ) Cost of Products Sold $ 940 $ (763 ) $ — $ (241 ) Excluded Component (2) $ (4,742 ) The effect of AOCL for gains or losses (before tax, in thousands) related to the Company's derivative instruments for the nine months ended July 28, 2019 , and July 29, 2018 , were as follows: Gain/(Loss) Location on Gain/(Loss) Gain/(Loss) Nine Months Ended Nine Months Ended Nine Months Ended Cash Flow Hedges: July 28, 2019 July 29, 2018 July 28, 2019 July 29, 2018 July 28, 2019 July 29, 2018 Commodity Contracts $ 9,546 $ (13,869 ) Cost of Products Sold $ (835 ) $ (195 ) $ — $ (602 ) Excluded Component (2) $ 501 (1) See Note I - Accumulated Other Comprehensive Loss for the after-tax impact of these gains or losses on Net Earnings. (2) Represents the time value amount of lean hog options excluded from the assessment of effectiveness for which the difference between changes in fair value and periodic amortization is recorded in AOCL. Consolidated Statements of Operations Impact: The effect on the Consolidated Statements of Operations for gains or losses (before tax, in thousands) related to the Company's derivative instruments for the three months and nine months ended July 28, 2019 , and July 29, 2018 , were as follows: Cost of Products Sold Three Months Ended Nine Months Ended July 28, 2019 July 29, 2018 July 28, 2019 July 29, 2018 Consolidated Statements of Operations $ 1,857,263 $ 1,904,096 $ 5,604,879 $ 5,574,858 Cash Flow Hedges - Commodity Contracts Gain (loss) reclassified from AOCL 940 (763 ) (835 ) (195 ) Amortization of excluded component from options (313 ) — (2,781 ) — Gain (loss) due to ineffectiveness — (241 ) — (602 ) Fair Value Hedges - Commodity Contracts Gain (loss) on commodity futures (1) 656 1,363 2,293 3,144 Gain (loss) due to ineffectiveness — 29 — (243 ) Total gain (loss) recognized in earnings $ 1,283 $ 388 $ (1,323 ) $ 2,104 (1) Amounts represent losses on commodity contracts designated as fair value hedges that were closed during the quarter, which were offset by a corresponding gain on the underlying hedged purchase commitment. Additional gains or losses related to changes in the fair value of open commodity contracts, along with the offsetting gain or loss on the hedged purchase commitment, are also marked-to-market through earnings with no impact on a net basis.
Cash Flow Hedges
Derivative [Line Items]
Schedule of outstanding commodity futures contracts	As of July 28, 2019 , and October 28, 2018 , the Company had the following outstanding commodity futures and options contracts related to its hedging programs: Volume Commodity Contracts July 28, 2019 October 28, 2018 Corn 30.8 million bushels 23.0 million bushels Lean hogs 207.5 million pounds 56.9 million pounds

INVESTMENTS IN AND RECEIVABLE_2

INVESTMENTS IN AND RECEIVABLES FROM AFFILIATES (Tables)	9 Months Ended
	Jul. 28, 2019
Equity Method Investments and Joint Ventures [Abstract]
Schedule of investments in, receivables from, and equity in earnings of affiliates	Investments in and receivables from affiliates consist of the following: (in thousands) Segment % Owned July 28, October 28, MegaMex Foods, LLC Grocery Products 50% $ 207,832 $ 205,148 Foreign Joint Ventures International & Other Various (26-40%) 71,433 68,005 Total $ 279,265 $ 273,153 Equity in earnings of affiliates consists of the following: Three Months Ended Nine Months Ended (in thousands) Segment July 28, July 29, July 28, July 29, MegaMex Foods, LLC Grocery Products $ 3,418 $ 11,859 $ 27,399 $ 44,381 Foreign Joint Ventures International & Other (34 ) 1,282 734 5,777 Total $ 3,384 $ 13,141 $ 28,133 $ 50,158

ACCUMULATED OTHER COMPREHENSI_2

ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)	9 Months Ended
	Jul. 28, 2019
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]
Schedule of components of accumulated other comprehensive loss	Components of accumulated other comprehensive loss are as follows: (in thousands) Foreign Pension & Deferred Accumulated Balance at April 28, 2019 $ (37,247 ) $ (246,182 ) $ 5,294 $ (278,135 ) Unrecognized gains (losses) Gross (889 ) (1 ) 5,141 4,251 Tax effect — — (2,370 ) (2,370 ) Reclassification into Net Earnings Gross — 2,334 (1) (940 ) (2) 1,394 Tax effect — (565 ) 230 (335 ) Net of tax amount (889 ) 1,768 2,061 2,940 Balance at July 28, 2019 $ (38,136 ) $ (244,414 ) $ 7,355 $ (275,195 ) (in thousands) Foreign Currency Translation Pension & Other Benefits Deferred Gain (Loss) - Hedging Accumulated Other Comprehensive Loss Reported balance at October 28, 2018 $ (44,854 ) $ (197,613 ) $ (1,031 ) $ (243,498 ) Impact of adoption of ASU ASU 2017-12 — — (21 ) (3) (21 ) ASU 2018-02 — (53,778 ) (3) — (53,778 ) Adjusted balance at October 28, 2018 (44,854 ) (251,391 ) (1,052 ) (297,297 ) Unrecognized gains (losses) Gross 6,718 2,203 10,067 18,988 Tax effect — (533 ) (2,299 ) (2,832 ) Reclassification into Net Earnings Gross — 7,001 (1) 835 (2) 7,836 Tax effect — (1,694 ) (196 ) (1,890 ) Net of tax amount 6,718 6,977 8,407 22,102 Balance at July 28, 2019 $ (38,136 ) $ (244,414 ) $ 7,355 $ (275,195 ) (1) I ncluded in the computation of net periodic cost. See Note F - Pension and Other Post-Retirement Benefits for additional details. (2) Included in Cost of Products Sold in the Consolidated Statements of Operations. (3) Cumulative effect from the adoption of Accounting Standards Update. See Note A - General for additional details.

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	9 Months Ended
	Jul. 28, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of reconciliation of the number of options outstanding and exercisable	A reconciliation of the number of options outstanding and exercisable (in thousands) as of July 28, 2019 , and changes during the nine months then ended, is as follows: Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding at October 28, 2018 29,536 $ 23.55 Granted 1,809 44.37 Exercised 3,790 12.70 Forfeited 660 36.37 Expired 5 35.87 Outstanding at July 28, 2019 26,890 26.16 5.3 $ 414,544 Exercisable at July 28, 2019 18,763 $ 21.09 4.0 $ 380,708
Schedule of weighted-average grant date fair value of stock options granted and the total intrinsic value of options exercised	The weighted-average grant date fair value of stock options granted and the total intrinsic value of options exercised (in thousands) during the third quarter and first nine months of fiscal years 2019 and 2018 , are as follows. There were no stock options granted during the third quarter of fiscal year 2019. Three Months Ended Nine Months Ended July 28, July 29, July 28, July 29, Weighted-average grant date fair value $ — $ 7.33 $ 9.24 $ 7.16 Intrinsic value of exercised options $ 7,308 $ 25,136 $ 115,094 $ 96,950
Schedule of weighted-average assumptions used to calculate fair value of each option award	The fair value of each option award is calculated on the date of grant using the Black-Scholes valuation model utilizing the following weighted-average assumptions: 0.029 Three Months Ended Nine Months Ended July 28, July 29, July 28, July 29, Risk-free interest rate — 2.9 % 2.8 % 2.7 % Dividend yield — 2.1 % 1.9 % 2.1 % Stock price volatility — 19.0 % 19.0 % 19.0 % Expected option life — 8 years 8 years 8 years
Schedule of reconciliation of the nonvested shares	A reconciliation of the restricted shares (in thousands) as of July 28, 2019 , and changes during the nine months then ended, is as follows: Shares Weighted- Average Grant Date Fair Value Restricted at October 28, 2018 52 $ 34.08 Granted 51 42.23 Vested 52 34.08 Restricted at July 28, 2019 51 $ 42.23
Schedule of the weighted-average grant date fair value of nonvested shares granted, the total fair value of nonvested shares granted, and the fair value of shares that have vested	The weighted-average grant date fair value of restricted shares granted, the total fair value (in thousands) of restricted shares granted, and the fair value (in thousands) of shares that have vested during the first nine months of fiscal years 2019 and 2018 , are as follows: Nine Months Ended July 28, July 29, Weighted-average grant date fair value $ 42.23 $ 34.08 Fair value of restricted shares granted 2,134 1,760 Fair value of shares vested 1,760 2,053

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Jul. 28, 2019
Fair Value Disclosures [Abstract]
Schedule of financial assets and liabilities measured at fair value on a recurring basis	The Company’s financial assets and liabilities carried at fair value on a recurring basis as of July 28, 2019 , and October 28, 2018 , and their level within the fair value hierarchy, are presented in the tables below. Fair Value Measurements at July 28, 2019 (in thousands) Total Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets at Fair Value Cash and cash equivalents (1) $ 560,199 $ 559,009 $ 1,190 $ — Short-term marketable securities (2) 14,064 4,683 9,381 — Other trading securities (3) 157,114 — 157,114 — Commodity derivatives (4) 9,555 9,347 208 — Total Assets at Fair Value $ 740,932 $ 573,039 $ 167,893 $ — Liabilities at Fair Value Deferred compensation (3) $ 61,309 $ — $ 61,309 $ — Total Liabilities at Fair Value $ 61,309 $ — $ 61,309 $ — Fair Value Measurements at October 28, 2018 (in thousands) Total Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Assets at Fair Value Cash and cash equivalents (1) $ 459,136 $ 459,136 $ — $ — Other trading securities (3) 137,311 — 137,311 — Commodity derivatives (4) 4,611 4,611 — — Total Assets at Fair Value $ 601,058 $ 463,747 $ 137,311 $ — Liabilities at Fair Value Deferred compensation (3) $ 60,181 $ — $ 60,181 $ — Total Liabilities at Fair Value $ 60,181 $ — $ 60,181 $ — The following methods and assumptions were used to estimate the fair value of the financial assets and liabilities above: (1) The Company’s cash equivalents considered Level 1 consist primarily of bank deposits, money market funds rated AAA, or other highly liquid investment accounts, and have a maturity date of three months or less. Cash equivalents considered Level 2 are funds holding agency bonds or securities booked at amortized cost. (2) The Company holds securities as part of a portfolio maintained to generate investment income and to provide cash for operations of the Company, if necessary. The portfolio is managed by a third party who is responsible for daily trading activities, and all assets within the portfolio are highly liquid. The cash, U.S. government securities, and money market funds rated AAA held by the portfolio are classified as Level 1. The current investment portfolio also includes corporate bonds and other asset backed securities for which there is an active, quoted market. Market prices are obtained from a variety of industry providers, large financial institutions, and other third-party sources to calculate a representative daily market value, and therefore, these securities are classified as Level 2. (3) A majority of the funds held in the rabbi trust relate to the supplemental executive retirement plans and have been invested in fixed income funds managed by a third party. The declared rate on these funds is set based on a formula using the yield of the general account investment portfolio supporting the fund, adjusted for expenses and other charges. The rate is guaranteed for one year at issue, and may be reset annually on the policy anniversary, subject to a guaranteed minimum rate. As the value is based on adjusted market rates, and the fixed rate is only reset on an annual basis, these funds are classified as Level 2. The funds held in the rabbi trust are included in Other Assets on the Consolidated Statements of Financial Position. The remaining funds held are also managed by a third-party insurance policy, the values of which represent their cash surrender value based on the fair value of the underlying investments in the account and include equity securities, money market accounts, bond funds, or other portfolios for which there is an active quoted market. Therefore, these policies are also classified as Level 2. The related deferred compensation liabilities are included in other long-term liabilities on the Consolidated Statements of Financial Position with investment options generally mirroring those funds held by the rabbi trust. Therefore, these investment balances are classified as Level 2. The Company also offers a fixed rate investment option to participants. The rate earned on these investments is adjusted annually based on a specified percentage of the I.R.S. applicable federal rates. These balances are classified as Level 2. (4) The Company’s commodity derivatives represent futures contracts and options used in its hedging or other programs to offset price fluctuations associated with purchases of corn, soybean meal, and hogs, and to minimize the price risk assumed when forward priced contracts are offered to the Company’s commodity suppliers. The Company’s futures contracts for corn and soybean meal are traded on the Chicago Board of Trade, while futures contracts for lean hogs are traded on the Chicago Mercantile Exchange. These are active markets with quoted prices available, and these contracts are classified as Level 1. Over-the-counter (OTC) derivative instruments are valued using discounted cashflow models, observable market inputs, and other mathematical pricing models. The Company’s lean hog option contracts are OTC instruments whose value is calculated using the Black-Scholes pricing model, lean hog future prices quoted from the Chicago Mercantile Exchange, and other adjustments to inputs that are observable in active markets. As the value of these instruments is driven by observable prices in active markets they are classified as Level 2. All derivatives are reviewed for potential credit risk and risk of nonperformance. The Company nets the derivative assets and liabilities for each of its hedging programs, including cash collateral, when a master netting arrangement exists between the Company and the counterparty to the derivative contract. The net balance for each program is included in other current assets or accounts payable, as appropriate, in the Consolidated Statements of Financial Position. As of July 28, 2019 , the Company has recognized the right to reclaim net cash collateral of $2.2 million from various counterparties (including $9.7 million of realized gains on closed positions offset by cash owed of $7.5 million ). As of October 28, 2018 , the Company had recognized the right to reclaim net cash collateral of $4.6 million from various counterparties (including cash of $4.7 million less $0.1 million of realized losses).

EARNINGS PER SHARE DATA (Tables

EARNINGS PER SHARE DATA (Tables)	9 Months Ended
	Jul. 28, 2019
Earnings Per Share [Abstract]
Schedule of denominator for the computation of basic and diluted earnings per share	The following table sets forth the shares used as the denominator for those computations: Three Months Ended Nine Months Ended (in thousands) July 28, July 29, July 28, July 29, Basic weighted-average shares outstanding 534,188 530,606 534,721 529,953 Dilutive potential common shares 9,490 13,156 10,988 13,399 Diluted weighted-average shares outstanding 543,678 543,762 545,709 543,352

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	9 Months Ended
	Jul. 28, 2019
Segment Reporting [Abstract]
Schedule of sales and operating profits for each of the reportable segments and reconciliation to earnings before income taxes	Sales and profits for each of the Company’s reportable segments and reconciliation to earnings before income taxes are set forth below. The Company is an integrated enterprise, characterized by substantial intersegment cooperation, cost allocations, and sharing of assets. Therefore, the Company does not represent these segments, if operated independently, would report the profit and other financial information shown below. Three Months Ended Nine Months Ended (in thousands) July 28, July 29, July 28, July 29, Sales to Unaffiliated Customers Grocery Products $ 543,088 $ 607,054 $ 1,785,232 $ 1,832,123 Refrigerated Foods 1,301,101 1,288,394 3,837,732 3,788,097 Jennie-O Turkey Store 298,781 316,100 925,271 942,735 International & Other 147,735 147,594 447,569 458,048 Total $ 2,290,705 $ 2,359,142 $ 6,995,804 $ 7,021,003 Intersegment Sales Grocery Products $ 10 $ 14 $ 32 $ 28 Refrigerated Foods 5,282 1,660 10,733 5,210 Jennie-O Turkey Store 31,804 28,069 90,665 78,297 International & Other — — — — Total 37,096 29,743 101,430 83,535 Intersegment elimination (37,096 ) (29,743 ) (101,430 ) (83,535 ) Total $ — $ — $ — $ — Net Sales Grocery Products $ 543,098 $ 607,068 $ 1,785,264 $ 1,832,151 Refrigerated Foods 1,306,383 1,290,054 3,848,465 3,793,307 Jennie-O Turkey Store 330,585 344,169 1,015,936 1,021,032 International & Other 147,735 147,594 447,569 458,048 Intersegment elimination (37,096 ) (29,743 ) (101,430 ) (83,535 ) Total $ 2,290,705 $ 2,359,142 $ 6,995,804 $ 7,021,003 Segment Profit Grocery Products $ 58,778 $ 83,433 $ 258,574 $ 274,184 Refrigerated Foods 171,795 151,924 492,476 476,375 Jennie-O Turkey Store 21,278 23,305 76,931 93,102 International & Other 18,755 18,646 58,058 64,151 Total segment profit 270,606 277,308 886,039 907,812 Net unallocated expense 9,584 19,686 297 48,384 Noncontrolling interest (22 ) 110 279 352 Earnings Before Income Taxes $ 261,000 $ 257,732 $ 886,021 $ 859,780
Schedule of total revenues contributed by classes of similar products	The amount of total revenues contributed by classes of similar products for the third quarter and first nine months of fiscal 2019 and 2018 are as follows: Three Months Ended Nine Months Ended (in thousands) July 28, July 29, July 28, July 29, Perishable $ 1,355,765 $ 1,325,886 $ 4,014,372 $ 3,948,767 Shelf-stable 417,535 428,133 1,299,263 1,297,474 Poultry 427,622 453,926 1,296,677 1,325,037 Miscellaneous 89,783 151,197 385,492 449,725 Total $ 2,290,705 $ 2,359,142 $ 6,995,804 $ 7,021,003 Revenue has been disaggregated into the categories below to show how sales channels affect the nature, amount, timing, and uncertainty of revenue and cash flows for the third quarter and first nine months of fiscal 2019 and 2018. Three Months Ended Nine Months Ended (in thousands) July 28, July 29, July 28, July 29, U.S. Retail $ 1,163,367 $ 1,221,398 $ 3,672,189 $ 3,778,544 U.S. Foodservice 729,321 729,247 2,135,633 2,060,594 U.S. Deli 229,386 240,777 693,377 672,252 International 168,631 167,720 494,605 509,613 Total $ 2,290,705 $ 2,359,142 $ 6,995,804 $ 7,021,003

GENERAL - Investments (Details)

GENERAL - Investments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jul. 28, 2019	Jul. 29, 2018	Jul. 28, 2019	Jul. 29, 2018
Rabbi trust
Investments
Gains (losses) related to securities held by the trust	$ 1.7	$ (1.4)	$ 7.9	$ 2.6

GENERAL - Guarantees (Details)

GENERAL - Guarantees (Details) - Revocable standby letters of credit $ in Millions	9 Months Ended
	Jul. 28, 2019USD ($)
Guarantees
Guarantee term	1 year
Standby letters of credit	$ 2.4

GENERAL - Accounting Changes an

GENERAL - Accounting Changes and Recent Accounting Pronouncements (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Jul. 28, 2019	Jul. 29, 2018		Jul. 28, 2019	Jul. 29, 2018		Jan. 27, 2019	Oct. 29, 2018	Oct. 28, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reclassification out of operating income	$ (256,657)	$ (256,690)	[1]	$ (875,269)	$ (860,385)	[1]
Reclassification to interest and investment income	7,556	9,477	[1]	25,727	19,560	[1]
Reclassification from retained earnings to accumulated other comprehensive loss	(5,984,305)			(5,984,305)					$ (5,729,956)
Reclassification to accumulated other comprehensive loss	$ 275,195			275,195					$ 243,498
ASU 2016-16
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect on retained earnings				$ 10,500
ASU 2017-07
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reclassification out of operating income		4,900			14,100
Reclassification to interest and investment income		$ 4,900			$ 14,100
ASU 2017-12
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reclassification from retained earnings to accumulated other comprehensive loss								$ 0
Reclassification to accumulated other comprehensive loss								0
ASU 2018-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Reclassification to accumulated other comprehensive loss								$ 53,800
ASU 2018-15
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Capitalized cloud implementation costs							$ 13,100
[1]	Adjusted due to the adoption of Accounting Standards Update (ASU) 2017-07, Compensation - Retirement Benefits: Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost (Topic 715) . See Note A - General.

REVENUE RECOGNITION - Narrative

REVENUE RECOGNITION - Narrative (Details)	9 Months Ended
	Jul. 28, 2019
Minimum
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, payment terms	7 days
Maximum
Disaggregation of Revenue [Line Items]
Revenue from contract with customer, payment terms	45 days

ACQUISITIONS AND DIVESTITURES -

ACQUISITIONS AND DIVESTITURES - Narrative (Details) - USD ($) $ in Thousands	Apr. 15, 2019	Nov. 27, 2017	Jul. 28, 2019	Jul. 29, 2018	[1]	Jul. 28, 2019	Jul. 29, 2018		Apr. 28, 2019	Oct. 28, 2018
ACQUISITIONS
Proceeds received, subject to working capital adjustments						$ 473,885	$ 0
Pre-tax gain						16,469	0
Tax benefit			$ (61,573)	$ (47,379)		(162,439)	$ (108,694)	[1]
Goodwill			$ 2,487,289			$ 2,487,289			$ 2,486,635	$ 2,714,116
Columbus Manufacturing, Inc.
ACQUISITIONS
Final purchase price		$ 857,400
Goodwill		610,602
Columbus Manufacturing, Inc. | Term Loan Facility | Line of Credit
ACQUISITIONS
Long-term line of credit		375,000
Columbus Manufacturing, Inc. | Revolving Credit Facility | Line of Credit
ACQUISITIONS
Long-term line of credit		$ 375,000
Disposal Group, Disposed of by Sale, Not Discontinued Operations | CytoSport
ACQUISITIONS
Proceeds received, subject to working capital adjustments	$ 473,900
Pre-tax gain	16,500
Tax benefit	$ 17,000
[1]	Adjusted due to the adoption of Accounting Standards Update (ASU) 2017-07, Compensation - Retirement Benefits: Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost (Topic 715) . See Note A - General.

ACQUISITIONS AND DIVESTITURES_2

ACQUISITIONS AND DIVESTITURES - Purchase Price Allocation (Details) - USD ($) $ in Thousands	Jul. 28, 2019	Apr. 28, 2019	Oct. 28, 2018	Nov. 27, 2017
Business Acquisition [Line Items]
Goodwill	$ 2,487,289	$ 2,486,635	$ 2,714,116
Columbus Manufacturing, Inc.
Business Acquisition [Line Items]
Accounts receivable				$ 21,199
Inventory				32,817
Prepaid and other assets				881
Other assets				936
Property, plant and equipment				83,662
Intangible assets				223,704
Goodwill				610,602
Current liabilities				(21,366)
Deferred taxes				(95,077)
Purchase price				$ 857,358

INVENTORIES - Components of Inv

INVENTORIES - Components of Inventories (Details) - USD ($) $ in Thousands	Jul. 28, 2019	Oct. 28, 2018
Inventory, Net [Abstract]
Finished products	$ 665,028	$ 525,628
Raw materials and work-in-process	254,629	247,495
Operating supplies	122,712	126,644
Maintenance materials and parts	66,145	63,760
Total	$ 1,108,514	$ 963,527

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Goodwill Rollforward (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Jul. 28, 2019	Jul. 28, 2019	Oct. 28, 2018
Changes in the carrying amount of goodwill
Balance at the beginning of the period	$ 2,486,635	$ 2,714,116
Segment reclassification			$ 0
Adjusted balance at October 28, 2018			2,714,116
Goodwill sold		(230,017)
Foreign currency translation	654	3,190
Balance at the end of the period	2,487,289	2,487,289
Grocery Products
Changes in the carrying amount of goodwill
Balance at the beginning of the period	632,301	882,582
Segment reclassification			(25,209)
Adjusted balance at October 28, 2018			857,373
Goodwill sold		(225,072)
Foreign currency translation	0	0
Balance at the end of the period	632,301	632,301
Refrigerated Foods
Changes in the carrying amount of goodwill
Balance at the beginning of the period	1,458,692	1,406,897
Segment reclassification			51,795
Adjusted balance at October 28, 2018			1,458,692
Goodwill sold		0
Foreign currency translation	0	0
Balance at the end of the period	1,458,692	1,458,692
Jennie-O Turkey Store
Changes in the carrying amount of goodwill
Balance at the beginning of the period	176,628	203,214
Segment reclassification			(26,586)
Adjusted balance at October 28, 2018			176,628
Goodwill sold		0
Foreign currency translation	0	0
Balance at the end of the period	176,628	176,628
International & Other
Changes in the carrying amount of goodwill
Balance at the beginning of the period	219,014	221,423
Segment reclassification			0
Adjusted balance at October 28, 2018			$ 221,423
Goodwill sold		(4,945)
Foreign currency translation	654	3,190
Balance at the end of the period	$ 219,668	$ 219,668

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Indefinite Lived Intangible Assets (Details) - USD ($) $ in Thousands	Jul. 28, 2019	Oct. 28, 2018
Carrying amounts for indefinite-lived intangible assets
Carrying amounts for indefinite-lived intangible assets	$ 956,754	$ 1,104,822
Brands/tradenames/trademarks
Carrying amounts for indefinite-lived intangible assets
Carrying amounts for indefinite-lived intangible assets	959,400	1,108,122
Other intangibles
Carrying amounts for indefinite-lived intangible assets
Carrying amounts for indefinite-lived intangible assets	184	184
Foreign currency translation
Carrying amounts for indefinite-lived intangible assets
Carrying amounts for indefinite-lived intangible assets	$ 2,830	$ 3,484

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - Definite Lived Intangibles Assets (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 28, 2019	Jul. 29, 2018	Jul. 28, 2019	Jul. 29, 2018	Oct. 28, 2018
Gross carrying amount and accumulated amortization for definite-lived intangible assets
Gross Carrying Amount	$ 120,696		$ 120,696		$ 143,194
Accumulated Amortization	(39,323)		(39,323)		(40,797)
Amortization expense	2,600	$ 3,300	8,937	$ 9,522
Estimated amortization expense
2019	11,700		11,700
2020	10,700		10,700
2021	10,700		10,700
2022	10,400		10,400
2023	9,500		9,500
Customer lists/relationships
Gross carrying amount and accumulated amortization for definite-lived intangible assets
Gross Carrying Amount	113,739		113,739		137,039
Accumulated Amortization	(34,418)		(34,418)		(36,367)
Other intangibles
Gross carrying amount and accumulated amortization for definite-lived intangible assets
Gross Carrying Amount	6,957		6,957		6,155
Accumulated Amortization	(2,494)		(2,494)		(1,547)
Foreign currency translation
Gross carrying amount and accumulated amortization for definite-lived intangible assets
Gross Carrying Amount	0		0		0
Accumulated Amortization	$ (2,411)		$ (2,411)		$ (2,883)

PENSION AND OTHER POST-RETIRE_3

PENSION AND OTHER POST-RETIREMENT BENEFITS - Net Periodic Benefit Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 28, 2019	Jul. 29, 2018	Jul. 28, 2019	Jul. 29, 2018
Pension Benefits
Net periodic cost of defined benefit plans
Service cost	$ 6,510	$ 7,903	$ 19,531	$ 23,709
Interest cost	15,097	14,045	45,289	42,144
Expected return on plan assets	(23,123)	(24,776)	(69,369)	(74,317)
Amortization of prior service cost	(699)	(617)	(2,096)	(1,851)
Recognized actuarial loss	3,702	4,548	11,104	13,626
Curtailment loss (gain)	0	0	2,825	0
Net periodic cost	1,487	1,103	7,284	3,311
Post-retirement Benefits
Net periodic cost of defined benefit plans
Service cost	173	98	520	739
Interest cost	3,007	2,692	9,181	8,356
Amortization of prior service cost	(669)	(812)	(2,007)	(2,233)
Recognized actuarial loss	0	44	0	133
Curtailment loss (gain)	0	0	(620)	0
Net periodic cost	$ 2,511	$ 2,022	$ 7,074	$ 6,995

DERIVATIVES AND HEDGING - Narra

DERIVATIVES AND HEDGING - Narrative (Details) $ in Millions	9 Months Ended
	Jul. 28, 2019USD ($)
Derivative [Line Items]
Hedging gains to be recognized within next twelve months	$ 9
Corn
Derivative [Line Items]
Maximum length of time to hedge exposure	2 years
Lean hogs
Derivative [Line Items]
Maximum length of time to hedge exposure	12 months

DERIVATIVES AND HEDGING - Outst

DERIVATIVES AND HEDGING - Outstanding Contracts (Details) - Cash Flow Hedges cwt in Millions, bu in Millions	3 Months Ended	9 Months Ended
	Oct. 28, 2018cwtbu	Jul. 28, 2019cwtbu
Corn
Derivative [Line Items]
Futures contracts, volume (in million bushels) | bu	23	30.8
Lean hogs
Derivative [Line Items]
Futures contracts, volume (in million pounds) | cwt	56.9	207.5

DERIVATIVES AND HEDGING - Fair

DERIVATIVES AND HEDGING - Fair Value Of Derivatives (Details) - USD ($) $ in Thousands	Jul. 28, 2019	Oct. 28, 2018
Derivatives designated as hedges | Commodity contracts | Other Current Assets
Derivatives fair value
Fair values of derivative instruments	$ 7,478	$ (30)

DERIVATIVES AND HEDGING - Fai_2

DERIVATIVES AND HEDGING - Fair Value Hedge Liabilities (Details) - USD ($) $ in Thousands	Jul. 28, 2019	Oct. 28, 2018
Accounts Payable
Derivatives fair value
Fair Value Hedge Liabilities	$ 1,234	$ (594)

DERIVATIVES AND HEDGING - Gains

DERIVATIVES AND HEDGING - Gains And Losses (Details) - Cash Flow Hedges - Derivatives designated as hedges - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 28, 2019	Jul. 29, 2018	Jul. 28, 2019	Jul. 29, 2018
Commodity Contracts
Derivative instruments gains or losses (before tax)
Gain/(Loss) Recognized in AOCL	$ 9,883		$ 9,546
Gain/(Loss) Recognized in AOCL, prior to adopting Topic 815		$ (12,620)		$ (13,869)
Gain/(Loss) Reclassified from AOCL into Earnings	940		(835)
Gain/(Loss) Reclassified from AOCL into Earnings, prior to adopting Topic 815		(763)		(195)
Gain/(Loss) Recognized in Earnings (Ineffective Portion)		(241)		(602)
Commodity Contracts | Cost of Products Sold
Derivative instruments gains or losses (before tax)
Gain/(Loss) Reclassified from AOCL into Earnings	940		(835)
Gain/(Loss) Reclassified from AOCL into Earnings, prior to adopting Topic 815		(763)		(195)
Gain/(Loss) Recognized in Earnings (Ineffective Portion)		$ (241)		$ (602)
Excluded Component
Derivative instruments gains or losses (before tax)
Gain/(Loss) Recognized in AOCL	$ (4,742)		$ 501

DERIVATIVES AND HEDGING - State

DERIVATIVES AND HEDGING - Statements of Operations Effect of Gains or Losses (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Jul. 28, 2019	Jul. 29, 2018		Jul. 28, 2019	Jul. 29, 2018
Derivative [Line Items]
Consolidated Statements of Operations	$ 1,857,263	$ 1,904,096	[1]	$ 5,604,879	$ 5,574,858	[1]
Fair Value Hedges - Commodity Contracts
Total gain (loss) recognized in earnings	1,283	388		(1,323)	2,104
Derivatives designated as hedges | Cash Flow Hedges | Commodity Contracts
Cash Flow Hedges - Commodity Contracts
Gain (loss) reclassified from AOCL	940			(835)
Gain (loss) reclassified from AOCL, prior to adopting Topic 815		(763)			(195)
Amortization of excluded component from options	(313)	0		(2,781)	0
Gain (loss) due to ineffectiveness		(241)			(602)
Derivatives designated as hedges | Fair Value Hedges | Commodity Contracts
Fair Value Hedges - Commodity Contracts
Gain (loss) on commodity futures	$ 656	1,363		$ 2,293	3,144
Gain (loss) due to ineffectiveness		$ 29			$ (243)
[1]	Adjusted due to the adoption of Accounting Standards Update (ASU) 2017-07, Compensation - Retirement Benefits: Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost (Topic 715) . See Note A - General.

INVESTMENTS IN AND RECEIVABLE_3

INVESTMENTS IN AND RECEIVABLES FROM AFFILIATES - Investment and Equity Information (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Jul. 28, 2019	Jul. 29, 2018		Jul. 28, 2019	Jul. 29, 2018		Oct. 28, 2018
Investments In and Receivables from Affiliates
Investments in and receivables from affiliates	$ 279,265			$ 279,265			$ 273,153
Equity in earnings of affiliates	$ 3,384	$ 13,141	[1]	$ 28,133	$ 50,158	[1]
MegaMex Foods, LLC
Investments In and Receivables from Affiliates
Ownership percentage	50.00%			50.00%
Investments in and receivables from affiliates	$ 207,832			$ 207,832			205,148
Equity in earnings of affiliates	3,418	11,859		27,399	44,381
Foreign Joint Ventures
Investments In and Receivables from Affiliates
Investments in and receivables from affiliates	71,433			71,433			$ 68,005
Equity in earnings of affiliates	$ (34)	$ 1,282		$ 734	$ 5,777
Foreign Joint Ventures | Minimum
Investments In and Receivables from Affiliates
Ownership percentage	26.00%			26.00%
Foreign Joint Ventures | Maximum
Investments In and Receivables from Affiliates
Ownership percentage	40.00%			40.00%
[1]	Adjusted due to the adoption of Accounting Standards Update (ASU) 2017-07, Compensation - Retirement Benefits: Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost (Topic 715) . See Note A - General.

INVESTMENTS IN AND RECEIVABLE_4

INVESTMENTS IN AND RECEIVABLES FROM AFFILIATES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jul. 28, 2019	Jul. 29, 2018	Jul. 28, 2019	Jul. 29, 2018	Oct. 26, 2009
Schedule of Equity Method Investments [Line Items]
Dividends received from affiliates	$ 10	$ 10	$ 20	$ 20
MegaMex Foods, LLC
Schedule of Equity Method Investments [Line Items]
Excess of investment over the underlying equity in net assets of the joint venture	$ 12.9		$ 12.9		$ 21.3

ACCUMULATED OTHER COMPREHENSI_3

ACCUMULATED OTHER COMPREHENSIVE LOSS - Components of AOCL (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 28, 2019	Jul. 29, 2018	Jul. 28, 2019	Jul. 29, 2018	Oct. 29, 2018
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 5,901,784	$ 5,291,633	$ 5,604,818	$ 4,939,697
Reclassification into Net Earnings
Total Other Comprehensive Income (Loss)	2,778	(23,826)	22,080	(11,108)
Ending balance	5,891,335	5,395,768	5,891,335	5,395,768
ASU 2017-12
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Impact of adoption of ASU					$ 0
ASU 2018-02
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Impact of adoption of ASU					(1,436)
Accumulated Other Comprehensive Loss
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(278,135)	(235,753)	(243,498)	(248,075)
Adjusted balance at October 28, 2018					(297,297)
Unrecognized gains (losses)
Gross	4,251		18,988
Tax effect	(2,370)		(2,832)
Reclassification into Net Earnings
Gross	1,394		7,836
Tax effect	(335)		(1,890)
Total Other Comprehensive Income (Loss)	2,940	(23,455)	22,102	(11,133)
Ending balance	(275,195)	$ (259,208)	(275,195)	$ (259,208)
Accumulated Other Comprehensive Loss | ASU 2017-12
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Impact of adoption of ASU					(21)
Accumulated Other Comprehensive Loss | ASU 2018-02
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Impact of adoption of ASU					(53,778)
Foreign Currency Translation
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(37,247)		(44,854)
Adjusted balance at October 28, 2018					(44,854)
Unrecognized gains (losses)
Gross	(889)		6,718
Tax effect	0		0
Reclassification into Net Earnings
Gross	0		0
Tax effect	0		0
Total Other Comprehensive Income (Loss)	(889)		6,718
Ending balance	(38,136)		(38,136)
Pension & Other Benefits
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(246,182)		(197,613)
Adjusted balance at October 28, 2018					(251,391)
Unrecognized gains (losses)
Gross	(1)		2,203
Tax effect	0		(533)
Reclassification into Net Earnings
Gross	2,334		7,001
Tax effect	(565)		(1,694)
Total Other Comprehensive Income (Loss)	1,768		6,977
Ending balance	(244,414)		(244,414)
Pension & Other Benefits | ASU 2018-02
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Impact of adoption of ASU					(53,778)
Deferred Gain (Loss) - Hedging
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	5,294		(1,031)
Adjusted balance at October 28, 2018					(1,052)
Unrecognized gains (losses)
Gross	5,141		10,067
Tax effect	(2,370)		(2,299)
Reclassification into Net Earnings
Gross	(940)		835
Tax effect	230		(196)
Total Other Comprehensive Income (Loss)	2,061		8,407
Ending balance	$ 7,355		$ 7,355
Deferred Gain (Loss) - Hedging | ASU 2017-12
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Impact of adoption of ASU					$ (21)

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Jul. 28, 2019	Jul. 29, 2018	Jul. 28, 2019	Jul. 29, 2018	Oct. 27, 2019	Oct. 28, 2018
Income Tax Contingency [Line Items]
Blended income tax rate						23.40%
Effective tax rate	23.60%	18.40%	18.30%	12.60%
Unrecognized tax benefits that would impact effective tax rate	$ 28,500	$ 26,000	$ 28,500	$ 26,000
Interest and penalties expenses related to uncertain tax positions	0	200	0	600
Accrued interest and penalties associated with unrecognized tax benefits	$ 6,800	$ 6,300	$ 6,800	$ 6,300
Scenario, Forecast
Income Tax Contingency [Line Items]
Blended income tax rate					21.00%
Scenario, Forecast | Minimum
Income Tax Contingency [Line Items]
Effective tax rate					18.30%
Scenario, Forecast | Maximum
Income Tax Contingency [Line Items]
Effective tax rate					20.30%

STOCK-BASED COMPENSATION - Expe

STOCK-BASED COMPENSATION - Expense And Exercises (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 28, 2019	Jul. 29, 2018	Jul. 28, 2019	Jul. 29, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based compensation expense recognized	$ 3,200	$ 6,300	$ 16,700	$ 17,700
Stock-based compensation expense unrecognized	31,300		$ 31,300
Period for recognition of unrecognized stock-based compensation expense			2 years 9 months 18 days
Cash received from stock option exercises	$ 3,800	$ 10,700	$ 48,107	$ 40,732

STOCK-BASED COMPENSATION - Stoc

STOCK-BASED COMPENSATION - Stock Options (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Jul. 28, 2019	Jul. 29, 2018	Jul. 28, 2019	Jul. 29, 2018
STOCK-BASED COMPENSATION
Granted (in shares)	0
Active, Full-Time Employees
STOCK-BASED COMPENSATION
Granted (in shares)		200
Active, Part-Time Employees as of April 30, 2018
STOCK-BASED COMPENSATION
Granted (in shares)		100
Employee Stock Option
STOCK-BASED COMPENSATION
Vesting period		5 years	4 years
Stock option expiration period		10 years	10 years
Employee and Director Stock Option
Shares
Outstanding at the beginning of the period (in shares)			29,536,000
Granted (in shares)			1,809,000
Exercised (in shares)			3,790,000
Forfeited (in shares)			660,000
Expired (in shares)			5,000
Outstanding at the end of the period (in shares)	26,890,000		26,890,000
Exercisable at the end of the period (in shares)	18,763,000		18,763,000
Weighted- Average Exercise Price
Outstanding at the beginning of the period (in dollars per share)			$ 23.55
Granted (in dollars per share)			44.37
Exercised (in dollars per share)			12.70
Forfeited (in dollars per share)			36.37
Expired (in dollars per share)			35.87
Outstanding at the end of the period (in dollars per share)	$ 26.16		26.16
Exercisable at the end of the period (in dollars per share)	$ 21.09		$ 21.09
Weighted- Average Remaining Contractual Term (Years)
Outstanding at the end of the period			5 years 3 months 18 days
Exercisable at the end of the period			4 years
Aggregate Intrinsic Value
Outstanding at the end of the period	$ 414,544		$ 414,544
Exercisable at the end of the period	$ 380,708		$ 380,708
Weighted-average grant date fair value of stock options granted and the total intrinsic value of options exercised
Weighted-average grant date fair value (in dollars per share)	$ 0	$ 7.33	$ 9.24	$ 7.16
Intrinsic value of exercised options	$ 7,308	$ 25,136	$ 115,094	$ 96,950
Weighted-average assumptions used to calculate fair value of each ordinary option award
Risk-free interest rate	0.00%	2.90%	2.80%	2.70%
Dividend yield	0.00%	2.10%	1.90%	2.10%
Stock price volatility	0.00%	19.00%	19.00%	19.00%
Expected option life	0 years	8 years	8 years	8 years

STOCK-BASED COMPENSATION - Nonv

STOCK-BASED COMPENSATION - Nonvested Shares (Details) - Restricted shares - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended
	Jul. 28, 2019	Jul. 29, 2018
Shares
Restricted shares at the beginning of the period (in shares)	52
Granted (in shares)	51
Vested (in shares)	52
Restricted shares at the end of the period (in shares)	51
Weighted- Average Grant Date Fair Value
Restricted shares at the beginning of the period (in dollars per share)	$ 34.08
Granted (in dollars per share)	42.23
Vested (in dollars per share)	34.08
Restricted shares at the end of the period (in dollars per share)	42.23	$ 34.08
Weighted-average grant date fair value, the total fair value of nonvested shares granted, and the fair value of shares that have vested
Weighted-average grant date fair value (in dollars per share)	$ 34.08	$ 34.08
Fair value of restricted shares granted	$ 2,134	$ 1,760
Fair value of shares vested	$ 1,760	$ 2,053

FAIR VALUE MEASUREMENTS - Asset

FAIR VALUE MEASUREMENTS - Assets and Liabilities Measured at Fair Value (Details) - USD ($) $ in Thousands	Jul. 28, 2019	Oct. 28, 2018
Methods and assumptions used to estimate the fair value of the financial assets and liabilities
Recognized right to reclaim net cash collateral	$ 2,200	$ 4,600
Realized gains (losses) on closed positions	9,700	(100)
Recognized right to reclaim net cash collateral, cash portion	(7,500)	4,700
Fair value, long-term debt
Fair value of long-term debt (including current maturities)	260,000	631,300
Recurring basis
Assets at Fair Value
Cash and cash equivalents	560,199	459,136
Short-term marketable securities	14,064
Other trading securities	157,114	137,311
Total Assets at Fair Value	740,932	601,058
Liabilities at Fair Value
Deferred compensation	61,309	60,181
Total Liabilities at Fair Value	61,309	60,181
Recurring basis | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets at Fair Value
Cash and cash equivalents	559,009	459,136
Short-term marketable securities	4,683
Other trading securities	0	0
Total Assets at Fair Value	573,039	463,747
Liabilities at Fair Value
Deferred compensation	0	0
Total Liabilities at Fair Value	0	0
Recurring basis | Significant Other Observable Inputs (Level 2)
Assets at Fair Value
Cash and cash equivalents	1,190	0
Short-term marketable securities	9,381
Other trading securities	157,114	137,311
Total Assets at Fair Value	167,893	137,311
Liabilities at Fair Value
Deferred compensation	61,309	60,181
Total Liabilities at Fair Value	61,309	60,181
Recurring basis | Significant Unobservable Inputs (Level 3)
Assets at Fair Value
Cash and cash equivalents	0	0
Short-term marketable securities	0
Other trading securities	0	0
Total Assets at Fair Value	0	0
Liabilities at Fair Value
Deferred compensation	0	0
Total Liabilities at Fair Value	0	0
Recurring basis | Commodity contracts
Assets at Fair Value
Commodity derivatives	9,555	4,611
Recurring basis | Commodity contracts | Quoted Prices in Active Markets for Identical Assets (Level 1)
Assets at Fair Value
Commodity derivatives	9,347	4,611
Recurring basis | Commodity contracts | Significant Other Observable Inputs (Level 2)
Assets at Fair Value
Commodity derivatives	208	0
Recurring basis | Commodity contracts | Significant Unobservable Inputs (Level 3)
Assets at Fair Value
Commodity derivatives	$ 0	$ 0

EARNINGS PER SHARE DATA - Share

EARNINGS PER SHARE DATA - Shares Used as Denominator and Narrative (Details) - shares shares in Thousands	3 Months Ended			9 Months Ended
	Jul. 28, 2019	Jul. 29, 2018		Jul. 28, 2019	Jul. 29, 2018
Earnings Per Share [Abstract]
Basic weighted-average shares outstanding (in shares)	534,188	530,606	[1]	534,721	529,953	[1]
Dilutive potential common shares (in shares)	9,490	13,156		10,988	13,399
Diluted weighted-average shares outstanding (in shares)	543,678	543,762	[1]	545,709	543,352	[1]
Weighted-average stock options were not included in the computation of dilutive potential common shares (in shares)	5,900	10,600		3,000	7,600
[1]	Adjusted due to the adoption of Accounting Standards Update (ASU) 2017-07, Compensation - Retirement Benefits: Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost (Topic 715) . See Note A - General.

SEGMENT REPORTING - Operating P

SEGMENT REPORTING - Operating Profit (Details) $ in Thousands	3 Months Ended			9 Months Ended
	Jul. 28, 2019USD ($)	Jul. 29, 2018USD ($)		Jul. 28, 2019USD ($)divisionsegment	Jul. 29, 2018USD ($)
Operating profit and other financial information
Number of reportable business segments | segment				4
Net Sales	$ 2,290,705	$ 2,359,142	[1]	$ 6,995,804	$ 7,021,003	[1]
Segment Profit	256,657	256,690	[1]	875,269	860,385	[1]
Net unallocated expense	9,584	19,686		297	48,384
Noncontrolling interest	(22)	110	[1]	279	352	[1]
Earnings Before Income Taxes	261,000	257,732	[1]	886,021	859,780	[1]
Intersegment elimination
Operating profit and other financial information
Net Sales	37,096	29,743		101,430	83,535
Operating Segments
Operating profit and other financial information
Segment Profit	270,606	277,308		886,039	907,812
Grocery Products
Operating profit and other financial information
Net Sales	543,088	607,054		1,785,232	1,832,123
Grocery Products | Intersegment elimination
Operating profit and other financial information
Net Sales	10	14		32	28
Grocery Products | Operating Segments
Operating profit and other financial information
Net Sales	543,098	607,068		1,785,264	1,832,151
Segment Profit	58,778	83,433		$ 258,574	274,184
Refrigerated Foods
Operating profit and other financial information
Number of divisions | division				1
Net Sales	1,301,101	1,288,394		$ 3,837,732	3,788,097
Refrigerated Foods | Intersegment elimination
Operating profit and other financial information
Net Sales	5,282	1,660		10,733	5,210
Refrigerated Foods | Operating Segments
Operating profit and other financial information
Net Sales	1,306,383	1,290,054		3,848,465	3,793,307
Segment Profit	171,795	151,924		492,476	476,375
Jennie-O Turkey Store
Operating profit and other financial information
Net Sales	298,781	316,100		925,271	942,735
Jennie-O Turkey Store | Intersegment elimination
Operating profit and other financial information
Net Sales	31,804	28,069		90,665	78,297
Jennie-O Turkey Store | Operating Segments
Operating profit and other financial information
Net Sales	330,585	344,169		1,015,936	1,021,032
Segment Profit	21,278	23,305		76,931	93,102
International & Other
Operating profit and other financial information
Net Sales	147,735	147,594		447,569	458,048
International & Other | Intersegment elimination
Operating profit and other financial information
Net Sales	0	0		0	0
International & Other | Operating Segments
Operating profit and other financial information
Net Sales	147,735	147,594		447,569	458,048
Segment Profit	$ 18,755	$ 18,646		$ 58,058	$ 64,151
[1]	Adjusted due to the adoption of Accounting Standards Update (ASU) 2017-07, Compensation - Retirement Benefits: Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost (Topic 715) . See Note A - General.

SEGMENT REPORTING - Disaggregat

SEGMENT REPORTING - Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Jul. 28, 2019	Jul. 29, 2018		Jul. 28, 2019	Jul. 29, 2018
Revenue from External Customer [Line Items]
Total	$ 2,290,705	$ 2,359,142	[1]	$ 6,995,804	$ 7,021,003	[1]
Perishable
Revenue from External Customer [Line Items]
Total	1,355,765	1,325,886		4,014,372	3,948,767
Shelf-stable
Revenue from External Customer [Line Items]
Total	417,535	428,133		1,299,263	1,297,474
Poultry
Revenue from External Customer [Line Items]
Total	427,622	453,926		1,296,677	1,325,037
Miscellaneous
Revenue from External Customer [Line Items]
Total	89,783	151,197		385,492	449,725
U.S. Retail
Revenue from External Customer [Line Items]
Total	1,163,367	1,221,398		3,672,189	3,778,544
U.S. Foodservice
Revenue from External Customer [Line Items]
Total	729,321	729,247		2,135,633	2,060,594
U.S. Deli
Revenue from External Customer [Line Items]
Total	229,386	240,777		693,377	672,252
International
Revenue from External Customer [Line Items]
Total	$ 168,631	$ 167,720		$ 494,605	$ 509,613
[1]	Adjusted due to the adoption of Accounting Standards Update (ASU) 2017-07, Compensation - Retirement Benefits: Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost (Topic 715) . See Note A - General.