Seaboard (SEB) 10-Q 6 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Oct. 03, 2015	Oct. 30, 2015
Document and Entity Information
Entity Registrant Name	SEABOARD CORP /DE/
Entity Central Index Key	88,121
Document Type	10-Q
Document Period End Date	Oct. 3, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		1,170,550
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3

Condensed Consolidated Statemen

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 03, 2015	Sep. 27, 2014	Oct. 03, 2015	Sep. 27, 2014
Net sales:
Products (includes sales to affiliates of $240,544, $205,644, $664,714 and $580,661)	$ 1,139,144	$ 1,350,329	$ 3,464,235	$ 3,981,200
Service revenues	242,732	218,988	743,687	655,148
Other	28,897	53,324	83,095	160,520
Total net sales	1,410,773	1,622,641	4,291,017	4,796,868
Cost of sales and operating expenses:
Products	1,076,488	1,228,624	3,276,576	3,583,456
Services	223,002	198,276	666,318	595,265
Other	21,440	34,798	65,587	134,189
Total cost of sales and operating expenses	1,320,930	1,461,698	4,008,481	4,312,910
Gross income	89,843	160,943	282,536	483,958
Selling, general and administrative expenses	66,892	64,857	200,084	188,330
Operating income	22,951	96,086	82,452	295,628
Other income (expense):
Interest expense	(3,630)	(8,408)	(11,920)	(17,084)
Interest income	1,700	2,344	7,625	11,148
Interest income from affiliates	7,082	6,775	21,321	20,011
Income (loss) from affiliates	16,026	9,892	39,062	25,293
Other investment income, net	(26,192)	(2,990)	(22,380)	370
Foreign currency gains (losses), net	(152)	(530)	1,623	(9,217)
Gain on sale of controlling interest in subsidiary		64,392		64,392
Miscellaneous, net	(4,667)	655	(5,577)	(1,598)
Total other income, net	(9,833)	72,130	29,754	93,315
Earnings before income taxes	13,118	168,216	112,206	388,943
Income tax expense	(10,317)	(63,536)	(44,167)	(140,421)
Net earnings	2,801	104,680	68,039	248,522
Less: Net income attributable to noncontrolling interests	226	469	(459)	(576)
Net earnings attributable to Seaboard	$ 3,027	$ 105,149	$ 67,580	$ 247,946
Earnings per common share (in dollars per share)	$ 2.59	$ 89.83	$ 57.73	$ 209.91
Other comprehensive income (loss), net of income tax benefit of $730, $1,506, $1,554 and 11,894:
Foreign currency translation adjustment	$ (7,001)	$ (3,120)	$ (21,795)	$ (32,685)
Unrealized gain (loss) on investments	(342)	(105)	332	919
Unrealized gain (loss) on cash flow hedges		149		235
Unrecognized pension cost	938	320	3,165	960
Other comprehensive loss, net of tax	(6,405)	(2,756)	(18,298)	(30,571)
Comprehensive income	(3,604)	101,924	49,741	217,951
Less: Comprehensive income attributable to noncontrolling interests	226	476	(528)	(568)
Comprehensive income (loss) attributable to Seaboard	$ (3,378)	$ 102,400	$ 49,213	$ 217,383
Average number of shares outstanding (in shares)	1,170,550	1,170,550	1,170,550	1,181,217

Condensed Consolidated Stateme3

Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 03, 2015	Sep. 27, 2014	Oct. 03, 2015	Sep. 27, 2014
Consolidated Statement of Comprehensive Income
Products, sales to affiliates	$ 240,544	$ 205,644	$ 664,714	$ 580,661
Other comprehensive income (loss), income tax benefit	$ 730	$ 1,506	$ 1,554	$ 11,894

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Oct. 03, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 49,208	$ 36,459
Short-term investments	689,443	490,566
Receivables:
Receivables, net of allowance	456,100	633,965
Inventories	694,249	736,302
Deferred income taxes	56,042	45,647
Other current assets	115,894	110,053
Total current assets	2,060,936	2,052,992
Net property, plant and equipment	842,113	846,757
Investments in and advances to affiliates	635,949	543,411
Notes receivable from affiliates	196,087	197,270
Other assets	69,148	51,328
Total assets	3,804,233	3,691,758
Current liabilities:
Notes payable to banks	104,465	75,524
Accounts payable	204,950	214,218
Deferred revenue	76,896	51,158
Other current liabilities	327,215	293,932
Total current liabilities	713,526	634,832
Deferred income taxes	71,920	95,538
Other liabilities and deferred credits	234,492	226,677
Total non-current liabilities	$ 306,412	$ 322,215
Commitments and contingent liabilities
Stockholders' equity:
Common stock of $1 par value, Authorized 1,250,000 shares; issued and outstanding 1,170,550 shares	$ 1,171	$ 1,171
Accumulated other comprehensive loss	(270,935)	(252,637)
Retained earnings	3,049,382	2,981,802
Total Seaboard stockholders' equity	2,779,618	2,730,336
Noncontrolling interests	4,677	4,375
Total equity	2,784,295	2,734,711
Total liabilities and stockholders' equity	$ 3,804,233	$ 3,691,758

Condensed Consolidated Balance5

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Oct. 03, 2015	Dec. 31, 2014
Condensed Consolidated Balance Sheets
Common stock, par value (in dollars per share)	$ 1	$ 1
Common stock, Authorized shares	1,250,000	1,250,000
Common stock, issued shares	1,170,550	1,170,550
Common stock, outstanding shares	1,170,550	1,170,550

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Oct. 03, 2015	Sep. 27, 2014
Cash flows from operating activities:
Net earnings	$ 68,039	$ 248,522
Adjustments to reconcile net earnings to cash from operating activities:
Depreciation and amortization	68,742	69,322
Gain from sale of fixed assets	(500)	(1,631)
Gain on sale of power generating facility assets		(4,953)
Deferred income taxes	(32,535)	14,690
Pay-in-kind interest and accretion on notes receivable from affiliates	(13,074)	(11,511)
Income from affiliates	(39,062)	(25,293)
Dividends received from affiliates	35,610	1,823
Other investment income (loss), net	22,380	(370)
Gain on sale of controlling interest in a subsidiary		(64,392)
Other, net	2,179	(735)
Changes in assets and liabilities:
Receivables, net of allowance	176,705	89,718
Inventories	29,964	(74,971)
Other current assets	(8,681)	3,781
Current liabilities, exclusive of debt	40,352	22,016
Other, net	15,814	17,250
Net cash from operating activities	365,933	283,266
Cash flows from investing activities:
Purchase of short-term investments	(674,647)	(922,902)
Proceeds from the sale of short-term investments	434,343	842,294
Proceeds from the maturity of short-term investments	23,631	5,794
Capital expenditures	(95,992)	(94,665)
Proceeds from Sale of Productive Assets	24,276	2,639
Proceeds from the sale of power generating facility assets		7,715
Investments in and advances to affiliates, net	(77,677)	(22,083)
Purchase of long-term investments	(25,690)	(2,333)
Proceeds from the sale of controlling interest in a subsidiary		72,500
Other, net	5,554	2,757
Net cash from investing activities	(386,202)	(108,284)
Cash flows from financing activities:
Notes payable to banks, net	32,968	(31,815)
Principal payments of long-term debt		(91,403)
Repurchase of common stock		(53,781)
Other, net	(226)	(48)
Net cash from financing activities	32,742	(177,047)
Effect of exchange rate change on cash	276	3,043
Net change in cash and cash equivalents	12,749	978
Cash and cash equivalents at beginning of year	36,459	55,055
Cash and cash equivalents at end of period	$ 49,208	$ 56,033

Accounting Policies and Basis o

Accounting Policies and Basis of Presentation	9 Months Ended
	Oct. 03, 2015
Accounting Policies and Basis of Presentation
Accounting Policies and Basis of Presentation	Note 1 – Accounting Policies and Basis of Presentation The Condensed Consolidated Financial Statements include the accounts of Seaboard Corporation and its domestic and foreign subsidiaries (“Seaboard”). All significant intercompany balances and transactions have been eliminated in consolidation. Seaboard’s investments in non-consolidated affiliates are accounted for by the equity method. The unaudited Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements of Seaboard for the year ended December 31, 2014 as filed in its Annual Report on Form 10-K. Seaboard’s first three quarterly periods include approximately 13 weekly periods ending on the Saturday closest to the end of March, June and September. Seaboard’s year-end is December 31. The accompanying unaudited Condensed Consolidated Financial Statements include all adjustments (consisting only of normal recurring adjustments) which, in the opinion of management, are necessary for a fair presentation of financial position, results of operations and cash flows. Results of operations for interim periods are not necessarily indicative of results to be expected for a full year. As Seaboard conducts its commodity trading business with third parties, consolidated subsidiaries and non-consolidated affiliates on an interrelated basis, gross margin on non-consolidated affiliates cannot be clearly distinguished without making numerous assumptions primarily with respect to mark-to-market accounting for commodity derivatives. Use of Estimates The preparation of the Condensed Consolidated Financial Statements in conformity with U.S. generally accepted accounting principles ("GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the Condensed Consolidated Financial Statements, and the reported amounts of revenues and expenses during the reporting period. Significant items subject to such estimates and assumptions include those related to allowance for doubtful accounts, valuation of inventories, impairment of long-lived assets, potential write-down related to investments in and advances to affiliates and notes receivable from affiliates, income taxes and accrued pension liability. Actual results could differ from those estimates. Supplemental Non-Cash Transactions Seaboard has notes receivable from affiliates which accrue pay-in-kind interest income, primarily from one affiliate as discussed in Note 9. Seaboard recognized $4,309,000 and $13,074,000 of non-cash, pay-in-kind interest income and accretion of discount for the three and nine months ended October 3, 2015 , respectively, and $3,976,000 and $11,511,000 for the three and nine months ended September 27, 2014 , respectively, related to these notes receivable. As more fully described in Note 9, as of September 27, 2014 Seaboard’s Pork segment sold to Triumph Foods LLC (“Triumph”) a 50% interest in its processed meats division, Daily’s Premium Meats , LLC (“Daily’s”). As a result, Seaboard deconsolidated Daily’s from its Condensed Consolidated Balance Sheet as of September 27, 2014. The following table summarizes the non-cash transactions resulting from this deconsolidation: (Thousands of dollars) September 27, 2014 Decrease in net working capital $ Increase in investment in and advances to affiliates Decrease in fixed assets Decrease in goodwill Decrease in other intangible assets, net (not subject to amortization) Decrease in noncontrolling interest Gain on sale of controlling interest in subsidiary Net proceeds from sale of controlling interest in subsidiary $ Recently Issued Accounting Standards Not Yet Adopted In May 2014, the Financial Accounting Standards Board ("FASB") issued guidance to develop a single, comprehensive revenue recognition model for all contracts with customers. This guidance requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. This guidance will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. Seaboard is currently evaluating the impact this new guidance will have on its consolidated financial statements and related disclosures. Seaboard will be required to adopt this guidance on January 1, 2018 and it is currently anticipated that Seaboard will apply this guidance using the cumulative effect transition method. In July 2015, the FASB issued guidance to simplify the subsequent measurement of inventory; excluding inventory measured using last-in, first out or the retail inventory method. Under the new standard, inventory should be at the lower of cost and net realizable value. The new guidance is effective for interim and annual periods beginning after December 15, 2016 with early adoption permitted. Seaboard is analyzing the impact of this new standard and, at this time, cannot estimate the impact of adoption on net earnings. Change in Accounting Method During the second quarter of 2015, Seaboard invested an additional $10,000,000 in a business operating a 300 megawatt electricity generating facility in the Dominican Republic. This investment increased Seaboard's ownership interest to 29.9% from less than 20% . Seaboard's previous investment of $5,910,000 was accounted for using the cost method and as a result of this additional investment, Seaboard changed its accounting method to the equity method. This change in accounting requires Seaboard to present its prior period financial results to reflect the equity method of accounting from the date of the initial investment which resulted in a $12,691,000 adjustment to retained earnings and a corresponding increase to its investment as of January 1, 2014. The results for the three and nine months ended October 3, 2015 and September 27, 2014, which represents Seaboard's portion of the income (losses) incurred by the investee were not material. There is no tax impact to Seaboard on these amounts. See Note 9 for more information .

Investments

Investments	9 Months Ended
	Oct. 03, 2015
Investments
Investments	Note 2 – Investments Seaboard’s short-term investments are treated as either available-for-sale securities or trading securities. All of Seaboard’s available-for-sale and trading securities are classified as current assets as they are readily available to support Seaboard’s current operating needs. Available-for-sale securities are recorded at their estimated fair value with unrealized gains and losses reported, net of tax, as a separate component of accumulated other comprehensive loss. Trading securities are recorded at their estimated fair value with unrealized gains and losses reflected in other investment income (loss), net. At October 3, 2015 , money market funds included $970,000 denominated in British pounds and $147,000 denominated in Canadian dollars. The following is a summary of the amortized cost and estimated fair value of short-term investments for both available-for-sale and trading securities at October 3, 2015 and December 31, 2014 . October 3, 2015 December 31, 2014 Amortized Fair Amortized Fair (Thousands of dollars) Cost Value Cost Value Money market funds $ $ $ $ Corporate bonds - - U.S. Government agency securities - - Other available-for-sale securities - - Total available-for-sale short-term investments Domestic equity securities - - High yield debt securities Domestic equity mutual funds Domestic equity ETFs Foreign equity securities - - Money market funds held in trading accounts Foreign equity mutual fund - - Collateralized loan obligation - - Other trading securities Total trading short-term investments Total short-term investments $ $ $ $ Unrealized losses related to trading securities for the three and nine months ended October 3, 2015 were $22,377,000 and $20,902,000 , respectively, and $3,774,000 and $3,149,000 for the three and nine months ended September 27, 2014, respectively. In addition to its short-term investments, Seaboard also has trading securities related to Seaboard’s deferred compensation plans classified in other current assets in the Condensed Consolidated Balance Sheets. See Note 5 to the Condensed Consolidated Financial Statements for information on the types of trading securities held related to the deferred compensation plans.

Inventories

Inventories	9 Months Ended
	Oct. 03, 2015
Inventories
Inventories	Note 3 – Inventories The following is a summary of inventories at October 3, 2015 and December 31, 2014 : October 3, December 31, (Thousands of dollars) 2015 2014 At lower of LIFO cost or market: Live hogs and materials $ $ Fresh pork and materials LIFO adjustment Total inventories at lower of LIFO cost or market At lower of FIFO cost or market: Grains, oilseeds and other commodities Sugar produced and in process Other Total inventories at lower of FIFO cost or market Grain, flour and feed at lower of weighted average cost or market Total inventories $ $

Income Taxes

Income Taxes	9 Months Ended
	Oct. 03, 2015
Income Taxes
Income Taxes	Note 4 – Income Taxes Seaboard’s tax returns are regularly audited by federal, state and foreign tax authorities, which may result in material adjustments. Seaboard’s U.S. federal income tax years are closed through 2011. There have not been any material changes in unrecognized income tax benefits since December 31, 2014 . Interest and penalties related to unrecognized tax benefits were not material for the nine months ended October 3, 2015 .

Derivatives and Fair Value of F

Derivatives and Fair Value of Financial Instruments	9 Months Ended
	Oct. 03, 2015
Derivatives and Fair Value of Financial Instruments
Derivatives and Fair Value of Financial Instruments	Note 5 – Derivatives and Fair Value of Financial Instruments U.S. GAAP discusses valuation techniques, such as the market approach (prices and other relevant information generated by market conditions involving identical or comparable assets or liabilities), the income approach (techniques to convert future amounts to single present amounts based on market expectations including present value techniques and option-pricing), and the cost approach (amount that would be required to replace the service capacity of an asset, which is often referred to as replacement cost). U.S. GAAP utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The following is a brief description of those three levels: Level 1: Observable inputs such as unadjusted quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active. Level 3: Unobservable inputs that reflect the reporting entity’s own assumptions. The following table shows assets and liabilities measured at fair value on a recurring basis as of October 3, 2015 and also the level within the fair value hierarchy used to measure each category of assets and liabilities. Seaboard uses the end of the reporting period to determine if there were any transfers between levels. There were no transfers between levels that occurred in the first nine months of 2015 . The trading securities classified as other current assets below are assets held for Seaboard’s deferred compensation plans. Balance October 3, (Thousands of dollars) 2015 Level 1 Level 2 Level 3 Assets: Available-for-sale securities short-term investments: Money market funds $ $ $ - $ - Trading securities – short term investments: Domestic equity securities - - High yield debt securities - - Domestic equity mutual funds - - Domestic equity ETFs - - Foreign equity securities - - Money market funds held in trading accounts - - Foreign equity mutual fund - - Collateralized loan obligation - - Other trading securities - Trading securities – other current assets: Domestic equity securities - - Foreign equity securities - - Fixed income mutual funds - - Other - Derivatives Commodities (1) - - Foreign currencies - - Total Assets $ $ $ $ - Liabilities: Derivatives: Commodities (1) $ $ $ - $ - Interest rate swaps - - Foreign currencies - - Total Liabilities $ $ $ $ - (1) Seaboard’s commodity derivative assets and liabilities are presented in the Condensed Consolidated Balance Sheets on a net basis, including netting the derivatives with the related margin accounts. As of October 3, 2015 , the commodity derivatives had a margin account balance of $34,852,000 resulting in a net other current asset in the Condensed Consolidated Balance Sheet of $22,949,000 and a net other current liability of $197,000 . The following table shows assets and liabilities measured at fair value on a recurring basis as of December 31, 2014 and also the level within the fair value hierarchy used to measure each category of assets. Balance December 31, (Thousands of dollars) 2014 Level 1 Level 2 Level 3 Assets: Available-for-sale securities – short-term investments: Money market funds $ $ $ - $ - Corporate bonds - - U.S. Government agency securities - - Other available-for-sale securities - - Trading securities – short term investments: High yield debt securities - - Domestic equity mutual fund - - Domestic equity ETF - - Money market funds held in trading accounts - - Other trading securities - Trading securities – other current assets: Domestic equity securities - - Foreign equity securities - - Fixed income mutual funds - - Other - Derivatives Commodities (1) - - Foreign currencies - - Total Assets $ $ $ $ - Liabilities: Derivatives: Commodities (1) $ $ $ - $ - Interest rate swaps - - Foreign currencies - - Total Liabilities $ $ $ $ - (1) Seaboard’s commodity derivative assets and liabilities are presented in the Condensed Consolidated Balance Sheets on a net basis, including netting the derivatives with the related margin accounts. As of December 31, 2014 , the commodity derivatives had a margin account balance of $4,314,000 resulting in a net other current asset in the Condensed Consolidated Balance Sheet of $9,267,000 and a net other current liability of $596,000 . Financial instruments consisting of cash and cash equivalents, net receivables, notes payable, and accounts payable are carried at cost, which approximates fair value, as a result of the short-term nature of the instruments. The amortized cost and estimated fair values of investments at October 3, 2015 and December 31, 2014 are presented in Note 2. While management believes its derivatives are primarily economic hedges of its firm purchase and sales contracts or anticipated sales contracts, Seaboard does not perform the extensive record-keeping required to account for these types of transactions as hedges for accounting purposes. Since the derivatives discussed below are not accounted for as hedges, fluctuations in the related commodity prices, currency exchange rates and interest rates could have a material impact on earnings in any given period. Seaboard also enters into speculative derivative transactions not directly related to its raw material requirements. The nature of Seaboard’s market risk exposure has not changed materially since December 31, 2014 . Commodity Instruments Seaboard uses various derivative futures and options to manage its risk to price fluctuations for raw materials and other inventories, finished product sales and firm sales commitments. At October 3, 2015 , Seaboard had open net derivative contracts to purchase 17,228,000 bushels of grain, 9,438,000 pounds of sugar, 7,960,000 pounds of hogs, 7,260,000 pounds of soybean oil, 704,000 pounds of dry whey powder, 276,000 tons of soybean meal and 40,000 pounds of cheese and open net derivative contracts to sell 2,940,000 gallons of heating oil. At December 31, 2014 , Seaboard had open net derivative contracts to purchase 19,800,000 pounds of hogs, 19,620,000 pounds of soybean oil, 15,551,000 pounds of sugar, 10,697,000 bushels of grain, 88,000 pounds of dry whey powder and 85,000 tons of soybean meal and open net derivative contracts to sell 4,326,000 gallons of heating oil. Commodity derivatives are recorded at fair value with any changes in fair value being marked-to-market as a component of cost of sales in the Condensed Consolidated Statements of Comprehensive Income. Foreign Currency Exchange Agreements Seaboard enters into foreign currency exchange agreements to manage the foreign currency exchange rate risk with respect to certain transactions denominated in foreign currencies. Foreign currency exchange agreements that are primarily related to an underlying commodity transaction are recorded at fair value with changes in value marked-to-market as a component of cost of sales in the Condensed Consolidated Statements of Comprehensive Income. Foreign currency exchange agreements that are not related to an underlying commodity transaction are recorded at fair value with changes in value marked-to-market as a component of foreign currency gains (losses), net in the Condensed Consolidated Statements of Comprehensive Income. At October 3, 2015 and December 31, 2014 , Seaboard had trading foreign currency exchange agreements to cover a portion of its firm sales and purchase commitments and related trade receivables and payables with net notional amounts of $66,084,000 and $143,961,000 , respectively, primarily related to the South African rand. Interest Rate Exchange Agreements During 2014, Seaboard initially put into place four , approximately eight -year interest rate exchange agreements with mandatory early termination dates in the second half of 2014 and early 2015 for one of the agreements. During 2014 and 2015, these interest rate exchange agreements were terminated and replaced, each with a mandatory early termination date, which coincides with the revised anticipated delivery dates in 2015 and 2016 of dry bulk vessels to be leased, and have similar terms as the original agreements terminated. In June 2015, one agreement was terminated and not renewed with the delivery of a bulk vessel now leased. Payments made by Seaboard to unwind these agreements were not material . These exchange agreements involve the exchange of fixed-rate and variable-rate interest payments without the exchange of the underlying notional amounts to mitigate the potential effects of fluctuations in interest rates on the anticipated four dry bulk vessel leases in 2015 and 2016. Seaboard pays a fixed rate and receives a variable rate of interest on these three notional amounts outstanding of $22,000,000 each. In 2010, Seaboard entered into three ten -year interest rate exchange agreements, which involve the exchange of fixed-rate and variable-rate interest payments over the life of the agreements without the exchange of the underlying notional amounts, to mitigate the effects of fluctuations in interest rates on variable rate debt. Seaboard pays a fixed rate and receives a variable rate of interest on these three notional amounts of $25,000,000 each. All of Seaboard’s outstanding interest rate exchange agreements do not qualify as hedges for accounting purposes. Accordingly, the changes in fair value of these agreements are recorded in miscellaneous, net in the Condensed Consolidated Statements of Comprehensive Income. At October 3, 2015 and December 31, 2014 , Seaboard had six and seven interest rate exchange agreements outstanding respectively, with a total notional value of $141,000,000 and $163,000,000 , respectively. Counterparty Credit Risk From time to time Seaboard is subject to counterparty credit risk, related to its foreign currency exchange agreements and interest rate swaps, should the counterparties fail to perform according to the terms of the contracts. As of October 3, 2015 , Seaboard had a maximum amount of loss due to credit risk in the amount of $1,715,000 with three counterparties related to foreign c urrency exchange agreements and no counterparty credit risk related to the interest rate swaps. Seaboard does not hold any collateral related to these agreements. The following table provides the amount of gain or (loss) recognized in income for each type of derivative and where it was recognized in the Condensed Consolidated Statements of Comprehensive Income for the three and nine months ended October 3, 2015 and September 27, 2014 . Three Months Ended Nine Months Ended October 3, September 27, October 3, September 27, (Thousands of dollars) 2015 2014 2015 2014 Commodities Cost of sales $ $ $ $ Foreign currencies Cost of sales Foreign currencies Foreign currency Interest rate Miscellaneous, net The following table provides the fair value of each type of derivative held as of October 3, 2015 and December 31, 2014 and where each derivative is included in the Condensed Consolidated Balance Sheets. Asset Derivatives Liability Derivatives October 3, December 31, October 3, December 31, (Thousands of dollars) 2015 2014 2015 2014 Commodities (1) Other current assets $ $ Other current liabilities $ $ Foreign currencies Other current assets Other current liabilities Interest rate Other current assets - - Other current liabilities (1) Seaboard’s commodity derivative assets and liabilities are presented in the Condensed Consolidated Balance Sheets on a net basis, including netting the derivatives with the related margin accounts. As of October 3, 2015 and December 31, 2014 , the commodity derivatives had a margin account balance of $34,852,000 and $4,314,000 , respectively, resulting in a net other current asset in the Condensed Consolidated Balance Sheets of $22,949,000 and $9,267,000 , respectively and a net other current liability of $197,000 and $596,000 , respectively.

Employee Benefits

Employee Benefits	9 Months Ended
	Oct. 03, 2015
Employee Benefits
Employee Benefits	Note 6 – Employee Benefits Seaboard maintains two defined benefit pension plans for its domestic salaried and clerical employees. At this time, no contributions are expected to be made to these plans for the remainder of 2015 . Seaboard also sponsors non-qualified, unfunded supplemental executive plans, and has certain individual, non-qualified, unfunded supplemental retirement agreements for certain retired employees. Management has no plans to provide funding for these supplemental plans in advance of when the benefits are paid. The net periodic benefit cost for all of these plans was as follows: Three Months Ended Nine Months Ended October 3, September 27, October 3, September 27, (Thousands of dollars) 2015 2014 2015 2014 Components of net periodic benefit cost: Service cost $ $ $ $ Interest cost Expected return on plan assets Amortization and other Net periodic benefit cost $ $ $ $

Notes Payable, Long-term Debt,

Notes Payable, Long-term Debt, Commitments and Contingencies	9 Months Ended
	Oct. 03, 2015
Notes Payable, Long-term Debt, Commitments and Contingencies
Notes Payable, Long-term Debt, Commitments and Contingencies	Note 7 – Notes Payable, Long-term Debt, Commitments and Contingencies Notes Payable On September 22, 2015, Seaboard entered into a credit agreement for a n un committed line of credit totaling $50,000,000 related to a foreign subsidiary for the Commodity Trading and Milling segment. A $50,000,000 committed line related to a foreign subsidiary for the Commodity Trading and Milling segment expired on October 23, 2015. In addition, Seaboard cancelled its $200,000,000 long-term committed credit facility effective October 28, 2015. Seaboard is currently considering its options for potential long-term financing arr angements. Long-term Debt In July 2014, Seaboard provided notice of optional prepayment to its lenders related to a credit agreement with an original maturity date of 2021. The total principal payment of $85,500,000 was made on August 29, 2014. At that time, Seaboard paid a $3,760,000 fee for early payment, which was charged to interest expense in the third quarter of 2014. Contingencies On April 29, 2015, Seaboard received from the Department of Justice, Asset Forfeiture and Money Laundering Section (“AFMLS”), a Grand Jury subpoena issued by the United States District Court for the District of Columbia (the “DC District Court”) requesting records related to 37 specified foreign companies and five individuals. Seaboard has previously produced documents responsive to Grand Jury subpoenas dated September 18, 2014 and October 17, 2014. The subpoena issued September 18, 2014 requested records related to nine entities and one individual, and the subpoena issued October 17, 2014 requested records with respect to eight additional entities and one additional individual. Two additional subpoenas, each dated July 2, 2015 were received by Seaboard requesting records related to a certain customer. The companies and individuals as to which the requested records relate to are not affiliated with Seaboard. The AFMLS attorney conducting the investigation has advised Seaboard that it is not a target of the investigation. Seaboard has retained outside counsel and is cooperating with the government’s investigation. It is impossible at this stage either to determine the probability of a favorable or unfavorable outcome or to estimate the amount of potential loss, if any, resulting from the government’s inquiry. On September 19, 2012, the United States Immigration and Customs Enforcement (“ICE”) executed three search warrants authorizing the seizure of certain records from Seaboard’s offices in Merriam, Kansas and at the Seaboard Foods LLC ("Seaboard Foods") employment office and the human resources department in Guymon, Oklahoma. The warrants generally called for the seizure of employment-related files, certain e-mails and other electronic records relating to Medicaid and Medicaid recipients, certain health care providers in the Guymon area, and Seaboard’s health plan and certain personnel issues. The United States Attorney’s Office for the Western District of Oklahoma (“USAO”), which has been leading the investigation, previously advised Seaboard that it intended to close its investigation and that no charges would be brought against Seaboard. However, discussions with the USAO continue regarding the status of the investigation and the possibility of proceedings by the USAO, ICE and/or the Oklahoma Attorney General's office remains. No proceedings have been filed or brought as of the date of this report. It is not possible at this time to determine whether any agencies will continue to pursue an investigation or whether Seaboard will incur any material fines, penalties or liabilities in connection with this matter. The dispute between Seabo ard’s subsidiary Seaboard Foods and the United Food & Commercial Workers International Union-industry Pension Fund disclosed in Seaboard’s Form 10-Q filed with the Securities and Exchange Commission on August 11, 2015 has been resolved without Seaboard Foods incurring any withdrawal or incremental liabilities . Seaboard is subject to various administrative and judicial proceedings and other legal matters related to the normal conduct of its business. In the opinion of management, the ultimate resolution of these items is not expected to have a material adverse effect on the Condensed Consolidated Financial Statements of Seaboard. Contingent Obligations Certain of the non-consolidated affiliates and third party contractors who perform services for Seaboard have bank debt supporting their underlying operations. From time to time, Seaboard will provide guarantees of that debt in order to further Seaboard’s business objectives. Seaboard does not issue guarantees of third parties for compensation. As of October 3, 2015 , guarantees outstanding to third parties were not material. Seaboard has not accrued a liability for any of the third party or affiliate guarantees as management considers the likelihood of loss to be remote. As of October 3, 2015 , Seaboard’s borrowing capacity under its uncommitted lines was reduced by letters of credit totaling $3,107,000 . The notes payable to banks under the committed and uncommitted credit lines are unsecured. These lines of credit do not require compensating balances. On May 13, 2015, Seaboard, through a wholly-owned subsidiary, agreed to contribute up to $207,400,000 to jointly develop and operate a pork processing facility in Sioux City, Iowa. As of October 3, 2 015, $14,900,000 has be en contributed. Approximately $10,800,000 is expected to be contributed in the fourth quarter of 2015, with the remaining amounts through 2019. As part of the operations, Seaboard agreed to provide a portion of the hogs to be processed at the facility. Seaboard is currently evaluating its options to provide additional hogs to the facility.

Stockholders' Equity and Accumu

Stockholders' Equity and Accumulated Other Comprehensive Loss	9 Months Ended
	Oct. 03, 2015
Stockholders' Equity and Accumulated Other Comprehensive Loss
Stockholders' Equity and Accumulated Other Comprehensive Loss	Note 8 – Stockholders’ Equity and Accumulated Other Comprehensive Loss On October 21, 2015, the Board of Directors extended through October 31, 2017 the share repurchase program initially approved in November 2009 and increased the authorized amount of repurchases from the $50,846,000 that remained available at October 3, 2015 to $100,000,000 . For the nine months ended October 3, 2015, Seaboard did not repurchase any shares of common stock. Under this share repurchase program, Seaboard is authorized to repurchase its common stock from time to time in open market or privately negotiated purchases, which may be above or below the traded market price. During the period that the share repurchase program remains in effect, from time to time Seaboard may enter into a 10b5-1 plan authorizing a third party to make such purchases on behalf of Seaboard. The stock repurchases are being funded by cash on hand, and shares repurchased are being retired and resume the status of authorized and unissued shares. All stock repurchases are being made in compliance with applicable legal requirements and the timing of the repurchases and the number of shares repurchased at any given time depend upon market conditions, compliance with Securities and Exchange Commission regulations and other factors. The Board’s stock repurchase authorization does not obligate Seaboard to acquire a specific amount of common stock and the stock repurchase program may be suspended at any time at Seaboard’s discretion. In May 2014, Seaboard commenced a tender offer to repurchase shares. On June 19, 2014 Seaboard completed the tender offer, pursuant to which it repurchased 16,738 shares of common stock at a price per share of $2,950 , for a total cost of $49,377,000 . In December 2012, Seaboard declared and paid a dividend of $12.00 per share on the common stock. The increased amount of the dividend (which has historically been $0.75 per share on a quarterly basis or $3.00 per share on an annual basis) represented a prepayment of the annual 2013 , 2014 , 2015 and 2016 dividends ($3.00 per share per year). Seaboard did not declare or pay a dividend in 2013 and 2014. Seaboard does not currently intend to declare any further dividends for the years 2015 and 2016. The changes in the components of other comprehensive loss ("OCL”), net of related taxes, are as follows: Three Months Ended Nine Months Ended October 3, September 27, October 3, September 27, (Thousands of dollars) 2015 2014 2015 2014 Foreign currency translation adjustment $ $ $ $ Investments: Unrealized gain (loss) Amounts reclassified from OCL to net earnings (1) (1) (1) (1) Unrealized gain (loss) on investments Unrealized gain on cash flow hedges - - Pension cost: Unrealized gain (loss) - - Amounts reclassified from OCL to net earnings (2) (2) (2) (2) Unrecognized pension cost Other comprehensive loss, net of tax $ $ $ $ (1) This represents realized losses (gains) on the sale of available-for-sale securities and was recorded in other investment income (loss), net. (2) This primarily represents the amortization of actuarial losses that were included in net periodic pension cost and was recorded in operating income. See Note 6 for further discussion. The components of accumulated other comprehensive loss, net of related taxes, are as follows: October 3, December 31, (Thousands of dollars) 2015 2014 Cumulative foreign currency translation adjustment $ $ Unrealized gain on investments Unrecognized pension cost Total accumulated other comprehensive loss $ $ The foreign currency translation adjustment primarily represents the effect of the Argentine peso currency exchange fluctuation on the net assets of the Sugar segment. At October 3, 2015 , the Sugar segment had $110,743,000 in net assets denominated in Argentine pesos and $966,000 in net assets denominated in U.S. dollars. Management anticipates that the Argentine peso could continue to weaken against the U.S. dollar and thus it is anticipated that Seaboard could incur additional foreign currency translation adjustment losses in other comprehensive loss during the remainder of 2015 . At October 3, 2015 and September 27, 2014 , income taxes for cumulative foreign currency translation adjustments were recorded using a 35% effective tax rate except for $71,917,000 and $50,801,000 , respectively, related to certain subsidiaries for which no tax benefit was recorded. At October 3, 2015 and September 27, 2014 , income taxes for all other components of accumulated other comprehensive loss were recorded using a 39% effective rate except for unrecognized pension cost of $19,175,000 and $8,415,000 , respectively, related to employees at certain subsidiaries for which no tax benefit was recorded .

Segment Information

Segment Information	9 Months Ended
	Oct. 03, 2015
Segment Information
Segment Information	Note 9 - Segment Information As of September 27, 2014, Seaboard's Pork segment sold a 50% interest in Daily's to Triumph resulting in a gain on sale of controlling interest in subsidiary of $64,392,000 ($39,279,000 net of tax es, or $33.56 per sh are) in the third quarter of 2014. Daily's produces and markets raw and pre-cooked bacon, ham and sausage and has two further processing plants located in Salt Lake City, Utah and Missoula, Montana. The Pork segment currently has a business relationship with Triumph under which Seaboard markets substantially all of the pork products produced at Triumph's plant in St. Joseph, Missouri. Through September 27, 2014, Seaboard consolidated the operating results of Daily's as part of its Pork segment operations. As a result of this transaction, Seaboard deconsolidated Daily's from its Condensed Consolidated Balance Sheet as of September 27, 2014 (see Note 1, Supplemental Non-Cash Transactions). Seaboard's remaining 50% investment in Daily's is accounted for in the Pork segment by using the equity method of accounting. Both Seaboard and Triumph supply raw product to Daily's. The Commodity Trading and Milling segment has a 50% noncontrolling interest in a bakery located in the Democratic Republic of Congo (“DRC”), which began operations in the fourth quarter of 2012. The bakery has been incurring operating losses since it began operations as it continues to resolve equipment problems and attempts to gain market share. As a result of the continuing equipment problems, other production challenges and unfavorable local market conditions causing challenges in gaining market share, Seaboard's management determined achieving improved operating results would take significantly longer than anticipated. As a result, Seaboard's management determined there was a decline in value considered other-than-temporary as of December 31, 2014 and thus Seaboard recorded a write-down in the fourth quarter of 2014, which represented the remaining equity investment in this business. As part of its investment, Seaboard has an interest bearing long-term note receivable from this bakery, the terms of which require periodic principal payments and a final maturity date of December 2020. No payment was received in June and Seaboard agreed to temporarily waive this default to allow time to work with the business management and its other owners on revisions to the payment schedule to better align with the bakery’s forecasted cash flows. As of October 3, 2015 , the recorded balance of this note receivable from affiliate and previous accrued interest was $34,556,000 , all classified as long-term given uncertainty of the timing of payments in the future. Repayment of this note is primarily dependent upon this business improving existing operations to generate adequate future cash flows to make future payments. If the future cash flows of this bakery do not improve, there is a possibility that some of the recorded value of the note receivable from affiliate could be deemed uncollectible in the future, which may result in a material charge to earnings. Including this business, as of October 3, 2015 Seaboard had a total of $58,712,000 of investments in, advances to and notes receivable from all of its affiliates in the DRC, which represents the single largest foreign country risk exposure for Seaboard's equity method investments. One of the other affiliates in the DRC, to which Seaboard sells wheat, is the only supplier of flour to this bakery. In September 2013, Seaboard invested $17,000,000 in a flour production business in Brazil for a 50% noncontrolling equity interest and provided a $13,000,000 long-term loan to this business. Half of the interest on this long-term note receivable from affiliate is payable currently in cash and the other half accrues as pay-in-kind interest. This note receivable matures in September 2020 but can be repaid with Seaboard having the option to convert the note receivable to equity and the other equity holders having the option to match such conversion with a purchase of new shares to avoid dilution. In addition, at the time of Seaboard's initial investment in this business, plans included potential future equal additional investments by the owners to improve existing operations and expand operations to improve long-term operating results. Seaboard’s share of additional investments and advances totaled $17,735,000 and $23,289,000 during the three and nine months ended October 3, 2015 , respectively. This business, which has received additional third party loans during 2015, incurred significant operating losses in 2014 and for the first nine months of 2015 . During the three and nine months ended October 3, 2015 , Seaboard recorded losses from affiliate of $4,296,000 and $26,209,000 , respectively, related to this investment. Based on current discussions with Seaboard’s business partner and the management of the business, the extent of the losses and revised financial outlook of the business, the halting of the construction plans for a new plant and the amount of existing third party debt of $27,481,000 , Seaboard has also reserved an additional $12,937,000 and $22,282,000 for the three and nine months ended October 3, 2015 , respectively, related to its advances and long-term note receivable. These charge s were recorded as a reduction to income from affiliates in the Condensed Consolidated Statemen ts of Comprehensive Income and were used to reduce Seaboard's investment in the business, advances and long-term note receiva ble to zero as of October 3, 2015. Seaboard has begun the legal process, as allowed per the Shareholders Agreement, to convert its debt to equity that, if successful, would allow Seaboard to obtain control of the business. However, there is no certainty that Seaboard will successfully be able to obtain control. As of December 31, 2014 , the recorded balance of this note receivable from affiliate was $13,849,000 and Seaboard's equity investment and advances in this business was $11,669,000 . Seaboard also had a gross receivable due from affiliate related to this business resulting from sales of grain and supplies of $22,042,000 and $13,969,000 as of October 3, 2015 and December 31, 2014 , respectively, which Seaboard recorded an additional reserve of $5,700,000 during the th ird quarter for a total reserve of $8,700,000 as of October 3, 2015 based on an analysis of collectability and working capital. It is possible that additional reserves will be necessary during the remainder of 2015. In September 2014, Seaboard invested $17,333,000 in a cargo terminal business in Jamaica for a 21% noncontrolling interest. This investment is accounted for in the Marine segment using the equity method reported on a three-month lag basis and thus Seaboard's first proportionate share of earnings was recognized in the first nine months of 2015. The Power segment had been operating a floating power generating facility ( 72 megawatts) in the Dominican Republic under a short-term lease agreement, but on April 1, 2014, Seaboard provided notice to cancel the lease and ceased operation of the leased facility on September 3, 2014. In conjunction with ceasing operations, Seaboard sold inventory related to these operations resulting in a $4,953,000 gain from sale of assets in operating income related to these items in the third quarter of 2014. During the second quarter of 2015, Seaboard invested an additional $10,000,000 in a business operating a 300 megawatt electricity generating facility in the Dominican Republic and changed its method of accounting from a cost method investment at Corporate to an equity method investment in the Power segment. As a result, Seaboard reclassified the $5,910,000 initial investment from Corporate to the Power segment along with $12,691,000 of Seaboard’s interest in this business’ reported net income since the date of its initial investment, which is reflected as an adjustment to retained earnings as of January 1, 2014. The Turkey segment, accounted for using the equity method, represents Seaboard’s investment in Butterball, LLC (“Butterball”). Butterball had total net sales for the three and nine months ended October 3, 2015 of $511,125,000 and $1,299,562,000 , respectively, compared to total net sales for the three and nine months ended September 27, 2014 of $486,971,000 and $1,218,402,000 , respectively. Butterball had operating income for the three and nine months ended October 3, 2015 of $68,997,000 and $162,956,000 , respectively, compared to operating income for the three and nine months ended September 27, 2014 of $35,881,000 and $85,311,000 , respectively. As of October 3, 2015 and December 31, 2014 , Butterball had total assets of $1,074,210,000 and $1,021,182,000 , respectively. In conjunction with Seaboard’s initial investment in Butterball in December 2010, Seaboard has a long-term note receivable from Butterball which had a balance of $154,000,000 as of October 3, 2015 . Part of the interest earned on this note is pay-in-kind interest, which accumulates and is paid at maturity in December 2017. The following tables set forth specific financial information about each segment as reviewed by Seaboard’s management. Operating income for segment reporting is prepared on the same basis as that used for consolidated operating income. Operating income, along with income or losses from affiliates for the Commodity Trading and Milling segment, is used as the measure of evaluating segment performance because management does not consider interest, other investment income and income tax expense on a segment basis. Sales to External Customers: Three Months Ended Nine Months Ended October 3, September 27, October 3, September 27, (Thousands of dollars) 2015 2014 2015 2014 Pork $ $ $ $ Commodity Trading and Milling Marine Sugar Power All Other Segment/Consolidated Totals $ $ $ $ Operating Income (Loss): Three Months Ended Nine Months Ended October 3, September 27, October 3, September 27, (Thousands of dollars) 2015 2014 2015 2014 Pork $ $ $ $ Commodity Trading and Milling Marine Sugar Power All Other Segment Totals Corporate Consolidated Totals $ $ $ $ Income (Loss) from Affiliates: Three Months Ended Nine Months Ended October 3, September 27, October 3, September 27, (Thousands of dollars) 2015 2014 2015 2014 Pork $ $ - $ $ - Commodity Trading and Milling Marine - - Sugar Power Turkey Segment/Consolidated Totals $ $ $ $ Total Assets: October 3, December 31, (Thousands of dollars) 2015 2014 Pork $ $ Commodity Trading and Milling Marine Sugar Power Turkey All Other Segment Totals Corporate Consolidated Totals $ $ Investments in and Advances to Affiliates: October 3, December 31, (Thousands of dollars) 2015 2014 Pork $ $ Commodity Trading and Milling Marine Sugar Power Turkey Segment/Consolidated Totals $ $ Administrative services provided by the corporate office are allocated to the individual segments and represent corporate services rendered to and costs incurred for each specific segment, with no allocation to individual segments for general corporate management oversight costs. Corporate assets include short-term investments, other current assets related to deferred compensation plans, fixed assets, deferred tax amounts and other miscellaneous items. Corporate operating losses represent certain operating costs not specifically allocated to individual segments and include costs related to Seaboard’s deferred compensation programs (which are offset by the effect of the mark-to-market investments recorded in other investment income (loss), net).

Accounting Policies and Basis16

Accounting Policies and Basis of Presentation (Policies)	9 Months Ended
	Oct. 03, 2015
Accounting Policies and Basis of Presentation
Use of Estimates	Use of Estimates The preparation of the Condensed Consolidated Financial Statements in conformity with U.S. generally accepted accounting principles ("GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the Condensed Consolidated Financial Statements, and the reported amounts of revenues and expenses during the reporting period. Significant items subject to such estimates and assumptions include those related to allowance for doubtful accounts, valuation of inventories, impairment of long-lived assets, potential write-down related to investments in and advances to affiliates and notes receivable from affiliates, income taxes and accrued pension liability. Actual results could differ from those estimates.
Supplemental Non-Cash Transactions	Supplemental Non-Cash Transactions Seaboard has notes receivable from affiliates which accrue pay-in-kind interest income, primarily from one affiliate as discussed in Note 9. Seaboard recognized $4,309,000 and $13,074,000 of non-cash, pay-in-kind interest income and accretion of discount for the three and nine months ended October 3, 2015 , respectively, and $3,976,000 and $11,511,000 for the three and nine months ended September 27, 2014 , respectively, related to these notes receivable. As more fully described in Note 9, as of September 27, 2014 Seaboard’s Pork segment sold to Triumph Foods LLC (“Triumph”) a 50% interest in its processed meats division, Daily’s Premium Meats , LLC (“Daily’s”). As a result, Seaboard deconsolidated Daily’s from its Condensed Consolidated Balance Sheet as of September 27, 2014. The following table summarizes the non-cash transactions resulting from this deconsolidation: (Thousands of dollars) September 27, 2014 Decrease in net working capital $ Increase in investment in and advances to affiliates Decrease in fixed assets Decrease in goodwill Decrease in other intangible assets, net (not subject to amortization) Decrease in noncontrolling interest Gain on sale of controlling interest in subsidiary Net proceeds from sale of controlling interest in subsidiary $
Recently Issued Accounting Standards Not Yet Adopted	Recently Issued Accounting Standards Not Yet Adopted In May 2014, the Financial Accounting Standards Board ("FASB") issued guidance to develop a single, comprehensive revenue recognition model for all contracts with customers. This guidance requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. This guidance will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. Seaboard is currently evaluating the impact this new guidance will have on its consolidated financial statements and related disclosures. Seaboard will be required to adopt this guidance on January 1, 2018 and it is currently anticipated that Seaboard will apply this guidance using the cumulative effect transition method. In July 2015, the FASB issued guidance to simplify the subsequent measurement of inventory; excluding inventory measured using last-in, first out or the retail inventory method. Under the new standard, inventory should be at the lower of cost and net realizable value. The new guidance is effective for interim and annual periods beginning after December 15, 2016 with early adoption permitted. Seaboard is analyzing the impact of this new standard and, at this time, cannot estimate the impact of adoption on net earnings.
Change in Accounting Method	Change in Accounting Method During the second quarter of 2015, Seaboard invested an additional $10,000,000 in a business operating a 300 megawatt electricity generating facility in the Dominican Republic. This investment increased Seaboard's ownership interest to 29.9% from less than 20% . Seaboard's previous investment of $5,910,000 was accounted for using the cost method and as a result of this additional investment, Seaboard changed its accounting method to the equity method. This change in accounting requires Seaboard to present its prior period financial results to reflect the equity method of accounting from the date of the initial investment which resulted in a $12,691,000 adjustment to retained earnings and a corresponding increase to its investment as of January 1, 2014. The results for the three and nine months ended October 3, 2015 and September 27, 2014, which represents Seaboard's portion of the income (losses) incurred by the investee were not material. There is no tax impact to Seaboard on these amounts. See Note 9 for more information

Accounting Policies and Basis17

Accounting Policies and Basis of Presentation (Tables)	9 Months Ended
	Oct. 03, 2015
Accounting Policies and Basis of Presentation
Schedule of non-cash transactions resulting from the deconsolidation	(Thousands of dollars) September 27, 2014 Decrease in net working capital $ Increase in investment in and advances to affiliates Decrease in fixed assets Decrease in goodwill Decrease in other intangible assets, net (not subject to amortization) Decrease in noncontrolling interest Gain on sale of controlling interest in subsidiary Net proceeds from sale of controlling interest in subsidiary $

Investments (Tables)

Investments (Tables)	9 Months Ended
	Oct. 03, 2015
Investments
Summary of the amortized cost and estimated fair value of short-term investments for both available-for-sale and trading securities	October 3, 2015 December 31, 2014 Amortized Fair Amortized Fair (Thousands of dollars) Cost Value Cost Value Money market funds $ $ $ $ Corporate bonds - - U.S. Government agency securities - - Other available-for-sale securities - - Total available-for-sale short-term investments Domestic equity securities - - High yield debt securities Domestic equity mutual funds Domestic equity ETFs Foreign equity securities - - Money market funds held in trading accounts Foreign equity mutual fund - - Collateralized loan obligation - - Other trading securities Total trading short-term investments Total short-term investments $ $ $ $

Inventories (Tables)

Inventories (Tables)	9 Months Ended
	Oct. 03, 2015
Inventories
Summary of inventories	October 3, December 31, (Thousands of dollars) 2015 2014 At lower of LIFO cost or market: Live hogs and materials $ $ Fresh pork and materials LIFO adjustment Total inventories at lower of LIFO cost or market At lower of FIFO cost or market: Grains, oilseeds and other commodities Sugar produced and in process Other Total inventories at lower of FIFO cost or market Grain, flour and feed at lower of weighted average cost or market Total inventories $ $

Derivatives and Fair Value of20

Derivatives and Fair Value of Financial Instruments (Tables)	9 Months Ended
	Oct. 03, 2015
Derivatives and Fair Value of Financial Instruments
Schedule of assets and liabilities measured at fair value on a recurring basis	Balance October 3, (Thousands of dollars) 2015 Level 1 Level 2 Level 3 Assets: Available-for-sale securities short-term investments: Money market funds $ $ $ - $ - Trading securities – short term investments: Domestic equity securities - - High yield debt securities - - Domestic equity mutual funds - - Domestic equity ETFs - - Foreign equity securities - - Money market funds held in trading accounts - - Foreign equity mutual fund - - Collateralized loan obligation - - Other trading securities - Trading securities – other current assets: Domestic equity securities - - Foreign equity securities - - Fixed income mutual funds - - Other - Derivatives Commodities (1) - - Foreign currencies - - Total Assets $ $ $ $ - Liabilities: Derivatives: Commodities (1) $ $ $ - $ - Interest rate swaps - - Foreign currencies - - Total Liabilities $ $ $ $ - (1) Seaboard’s commodity derivative assets and liabilities are presented in the Condensed Consolidated Balance Sheets on a net basis, including netting the derivatives with the related margin accounts. As of October 3, 2015 , the commodity derivatives had a margin account balance of $34,852,000 resulting in a net other current asset in the Condensed Consolidated Balance Sheet of $22,949,000 and a net other current liability of $197,000 . The following table shows assets and liabilities measured at fair value on a recurring basis as of December 31, 2014 and also the level within the fair value hierarchy used to measure each category of assets. Balance December 31, (Thousands of dollars) 2014 Level 1 Level 2 Level 3 Assets: Available-for-sale securities – short-term investments: Money market funds $ $ $ - $ - Corporate bonds - - U.S. Government agency securities - - Other available-for-sale securities - - Trading securities – short term investments: High yield debt securities - - Domestic equity mutual fund - - Domestic equity ETF - - Money market funds held in trading accounts - - Other trading securities - Trading securities – other current assets: Domestic equity securities - - Foreign equity securities - - Fixed income mutual funds - - Other - Derivatives Commodities (1) - - Foreign currencies - - Total Assets $ $ $ $ - Liabilities: Derivatives: Commodities (1) $ $ $ - $ - Interest rate swaps - - Foreign currencies - - Total Liabilities $ $ $ $ - (1) Seaboard’s commodity derivative assets and liabilities are presented in the Condensed Consolidated Balance Sheets on a net basis, including netting the derivatives with the related margin accounts. As of December 31, 2014 , the commodity derivatives had a margin account balance of $4,314,000 resulting in a net other current asset in the Condensed Consolidated Balance Sheet of $9,267,000 and a net other current liability of $596,000 .
Schedule of gain or (loss) recognized for each type of derivative and its location in the Condensed Consolidated Statements of Comprehensive Income	Three Months Ended Nine Months Ended October 3, September 27, October 3, September 27, (Thousands of dollars) 2015 2014 2015 2014 Commodities Cost of sales $ $ $ $ Foreign currencies Cost of sales Foreign currencies Foreign currency Interest rate Miscellaneous, net
Schedule of fair value of each type of derivative and its location in the Condensed Consolidated Balance Sheets	Asset Derivatives Liability Derivatives October 3, December 31, October 3, December 31, (Thousands of dollars) 2015 2014 2015 2014 Commodities (1) Other current assets $ $ Other current liabilities $ $ Foreign currencies Other current assets Other current liabilities Interest rate Other current assets - - Other current liabilities Seaboard’s commodity derivative assets and liabilities are presented in the Condensed Consolidated Balance Sheets on a net basis, including netting the derivatives with the related margin accounts. As of October 3, 2015 and December 31, 2014 , the commodity derivatives had a margin account balance of $34,852,000 and $4,314,000 , respectively, resulting in a net other current asset in the Condensed Consolidated Balance Sheets of $22,949,000 and $9,267,000 , respectively and a net other current liability of $197,000 and $596,000 , respectively.

Employee Benefits (Tables)

Employee Benefits (Tables)	9 Months Ended
	Oct. 03, 2015
Employee Benefits
Schedule of net periodic benefit cost of plans	Three Months Ended Nine Months Ended October 3, September 27, October 3, September 27, (Thousands of dollars) 2015 2014 2015 2014 Components of net periodic benefit cost: Service cost $ $ $ $ Interest cost Expected return on plan assets Amortization and other Net periodic benefit cost $ $ $ $

Stockholders' Equity and Accu22

Stockholders' Equity and Accumulated Other Comprehensive Loss (Tables)	9 Months Ended
	Oct. 03, 2015
Stockholders' Equity and Accumulated Other Comprehensive Loss
Schedule of changes in the components of other comprehensive loss (OCL), net of related taxes	Three Months Ended Nine Months Ended October 3, September 27, October 3, September 27, (Thousands of dollars) 2015 2014 2015 2014 Foreign currency translation adjustment $ $ $ $ Investments: Unrealized gain (loss) Amounts reclassified from OCL to net earnings (1) (1) (1) (1) Unrealized gain (loss) on investments Unrealized gain on cash flow hedges - - Pension cost: Unrealized gain (loss) - - Amounts reclassified from OCL to net earnings (2) (2) (2) (2) Unrecognized pension cost Other comprehensive loss, net of tax $ $ $ $ (1) This represents realized losses (gains) on the sale of available-for-sale securities and was recorded in other investment income (loss), net. (2) This primarily represents the amortization of actuarial losses that were included in net periodic pension cost and was recorded in operating income. See Note 6 for further discussion.
Schedule of components of accumulated other comprehensive loss, net of related taxes	October 3, December 31, (Thousands of dollars) 2015 2014 Cumulative foreign currency translation adjustment $ $ Unrealized gain on investments Unrecognized pension cost Total accumulated other comprehensive loss $ $

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Oct. 03, 2015
Segment Information
Summary of specific financial information related to sales to external customers	Sales to External Customers: Three Months Ended Nine Months Ended October 3, September 27, October 3, September 27, (Thousands of dollars) 2015 2014 2015 2014 Pork $ $ $ $ Commodity Trading and Milling Marine Sugar Power All Other Segment/Consolidated Totals $ $ $ $
Summary of specific financial information related to operating income (loss)	Operating Income (Loss): Three Months Ended Nine Months Ended October 3, September 27, October 3, September 27, (Thousands of dollars) 2015 2014 2015 2014 Pork $ $ $ $ Commodity Trading and Milling Marine Sugar Power All Other Segment Totals Corporate Consolidated Totals $ $ $ $
Summary of specific financial information related to income (loss) from affiliates	Income (Loss) from Affiliates: Three Months Ended Nine Months Ended October 3, September 27, October 3, September 27, (Thousands of dollars) 2015 2014 2015 2014 Pork $ $ - $ $ - Commodity Trading and Milling Marine - - Sugar Power Turkey Segment/Consolidated Totals $ $ $ $
Summary of specific financial information related to total assets	Total Assets: October 3, December 31, (Thousands of dollars) 2015 2014 Pork $ $ Commodity Trading and Milling Marine Sugar Power Turkey All Other Segment Totals Corporate Consolidated Totals $ $
Summary of specific financial information related to investments in and advances to affiliates	Investments in and Advances to Affiliates: October 3, December 31, (Thousands of dollars) 2015 2014 Pork $ $ Commodity Trading and Milling Marine Sugar Power Turkey Segment/Consolidated Totals $ $

Accounting Policies and Basis24

Accounting Policies and Basis of Presentation (Details)	Sep. 27, 2014USD ($)	Jan. 01, 2014USD ($)	Oct. 03, 2015USD ($)	Jul. 04, 2015USD ($)MW	Sep. 27, 2014USD ($)	Jul. 04, 2015USD ($)MW	Oct. 03, 2015USD ($)item	Sep. 27, 2014USD ($)	Dec. 31, 2014USD ($)	Apr. 04, 2015	Dec. 31, 2006USD ($)
Supplemental Non-Cash Transactions
Number of affiliates | item							1
Non-cash, pay-in-kind interest income and accretion of discount recognized on a note receivable from an affiliate			$ 4,309,000		$ 3,976,000		$ 13,074,000	$ 11,511,000
Non-cash transactions resulting from deconsolidation
Gain on sale of controlling interest in subsidiary					$ 64,392,000			64,392,000
Net proceeds from sale of controlling interest in subsidiary								$ 72,500,000
Dominican Republic | Power
Change in Accounting Method
Amount invested under equity method				$ 10,000,000		$ 10,000,000
Capacity of power facility (in megawatts) | MW				300		300
Percentage of ownership interest accounted as equity method investment				29.90%		29.90%
Amount invested under cost method											$ 5,910,000
Dominican Republic | Power | Change in accounting method
Change in Accounting Method
Increase in investment in affiliates		$ 12,691,000
Tax impact									$ 0
Dominican Republic | Power | Maximum
Change in Accounting Method
Percentage of ownership interest accounted as cost method investment										20.00%
Triumph | Divestiture of a 50% interest in Daily's | Pork
Supplemental Non-Cash Transactions
Percentage of ownership interest sold	50.00%				50.00%			50.00%
Non-cash transactions resulting from deconsolidation
Decrease in net working capital	$ 19,349,000
Increase in investments in and advances to affiliates	(72,500,000)
Decrease in fixed assets	16,038,000
Decrease in goodwill	28,372,000
Decrease in other intangible assets, net (not subject to amortization)	17,000,000
Decrease in noncontrolling interest	(151,000)
Gain on sale of controlling interest in subsidiary	64,392,000
Net proceeds from sale of controlling interest in subsidiary	$ 72,500,000

Investments (Details)

Investments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 03, 2015	Sep. 27, 2014	Oct. 03, 2015	Sep. 27, 2014	Dec. 31, 2014
Investments
Total short term investments, amortized cost	$ 712,678		$ 712,678		$ 497,230
Total short term investments, fair value	689,443		689,443		490,566
Unrealized losses related to trading securities	22,377	$ 3,774	20,902	$ 3,149
Available-for-sale securities.
Investments
Amortized Cost	100,648		100,648		167,049
Fair Value	100,648		100,648		167,096
Money market funds
Investments
Amortized Cost	100,648		100,648		142,432
Fair Value	100,648		100,648		142,432
Corporate bonds
Investments
Amortized Cost					11,000
Fair Value					11,015
U.S. Government agency securities
Investments
Amortized Cost					9,684
Fair Value					9,666
Other available-for-sale securities
Investments
Amortized Cost					3,933
Fair Value					3,983
Trading securities.
Investments
Amortized Cost	612,030		612,030		330,181
Fair Value	588,795		588,795		323,470
Domestic equity securities
Investments
Amortized Cost	167,770		167,770
Fair Value	158,815		158,815
High yield trading debt securities
Investments
Amortized Cost	125,347		125,347		187,491
Fair Value	122,178		122,178		181,483
Domestic equity mutual fund
Investments
Amortized Cost	86,309		86,309		83,809
Fair Value	80,525		80,525		82,542
Domestic equity ETF
Investments
Amortized Cost	78,925		78,925		31,307
Fair Value	77,443		77,443		32,651
Foreign equity securities
Investments
Amortized Cost	78,876		78,876
Fair Value	76,669		76,669
Money market funds held in trading accounts
Investments
Amortized Cost	40,152		40,152		21,401
Fair Value	40,152		40,152		21,401
Foreign equity mutual fund
Investments
Amortized Cost	20,000		20,000
Fair Value	19,831		19,831
Collateralized loan obligation
Investments
Amortized Cost	10,000		10,000
Fair Value	9,791		9,791
Other trading securities
Investments
Amortized Cost	4,651		4,651		6,173
Fair Value	3,391		3,391		$ 5,393
Denominated in British pounds | Money market funds
Investments
Fair Value	970		970
Denominated in Canadian dollars | Money market funds
Investments
Fair Value	$ 147		$ 147

Inventories (Details)

Inventories (Details) - USD ($) $ in Thousands	Oct. 03, 2015	Dec. 31, 2014
At lower of LIFO cost or market:
Live hogs and materials	$ 202,968	$ 208,641
Fresh pork and materials	29,997	28,573
Inventories at lower of LIFO cost or market, Gross	232,965	237,214
LIFO adjustment	(31,847)	(36,560)
Total inventories at lower of LIFO cost or market	201,118	200,654
At lower of FIFO cost or market:
Grains, oilseeds and other commodities	296,827	320,066
Sugar produced and in process	49,306	48,863
Other	55,581	57,344
Total inventories at lower of FIFO cost or market	401,714	426,273
Grain, flour and feed at lower of weighted average cost or market	91,417	109,375
Total inventories	$ 694,249	$ 736,302

Derivatives and Fair Value of27

Derivatives and Fair Value of Financial Instruments-Deferred Comp Securities (Details) - USD ($)	9 Months Ended
	Oct. 03, 2015	Dec. 31, 2014
Assets and liabilities measured at fair value on a recurring basis and also its level within the fair value hierarchy
Transfers that occurred into or out of level 2	$ 0
Transfers that occurred into or out of level 3	0
Commodities
Assets:
Margin account	34,852,000	$ 4,314,000
Money market funds
Assets:
Available-for-sale securities	100,648,000	142,432,000
Domestic equity securities
Assets:
Trading securities	158,815,000
High yield trading debt securities
Assets:
Trading securities	122,178,000	181,483,000
Domestic equity mutual fund
Assets:
Trading securities	80,525,000	82,542,000
Domestic equity ETF
Assets:
Trading securities	77,443,000	32,651,000
Foreign equity securities
Assets:
Trading securities	76,669,000
Money market funds held in trading accounts
Assets:
Trading securities	40,152,000	21,401,000
Foreign equity mutual fund
Assets:
Trading securities	19,831,000
Collateralized loan obligation
Assets:
Trading securities	9,791,000
Corporate bonds
Assets:
Available-for-sale securities		11,015,000
U.S. Government agency securities
Assets:
Available-for-sale securities		9,666,000
Other available-for-sale securities
Assets:
Available-for-sale securities		3,983,000
Recurring basis | Fair Value
Assets:
Total Assets	747,557,000	546,012,000
Liabilities:
Liabilities	31,870,000	9,901,000
Recurring basis | Fair Value | Commodities
Assets:
Derivatives	9,639,000	6,136,000
Margin account	34,852,000	4,314,000
Liabilities:
Derivatives	21,739,000	1,779,000
Recurring basis | Fair Value | Interest rate swaps
Liabilities:
Derivatives	8,714,000	7,715,000
Recurring basis | Fair Value | Foreign currencies
Assets:
Derivatives	1,715,000	1,675,000
Liabilities:
Derivatives	1,417,000	407,000
Recurring basis | Fair Value | Other current assets | Commodities
Assets:
Derivative assets and liabilities, net basis	22,949,000	9,267,000
Recurring basis | Fair Value | Other current liabilities | Commodities
Liabilities:
Derivatives	197,000	596,000
Recurring basis | Fair Value | Money market funds | Short-term investments.
Assets:
Available-for-sale securities	100,648,000	142,432,000
Recurring basis | Fair Value | Domestic equity securities | Short-term investments.
Assets:
Trading securities	158,815,000
Recurring basis | Fair Value | Domestic equity securities | Other current assets
Assets:
Trading securities	34,044,000	33,857,000
Recurring basis | Fair Value | High yield trading debt securities | Short-term investments.
Assets:
Trading securities	122,178,000	181,483,000
Recurring basis | Fair Value | Domestic equity mutual fund | Short-term investments.
Assets:
Trading securities	80,525,000	82,542,000
Recurring basis | Fair Value | Domestic equity ETF | Short-term investments.
Assets:
Trading securities	77,443,000	32,651,000
Recurring basis | Fair Value | Foreign equity securities | Short-term investments.
Assets:
Trading securities	76,669,000
Recurring basis | Fair Value | Foreign equity securities | Other current assets
Assets:
Trading securities	6,246,000	6,532,000
Recurring basis | Fair Value | Money market funds held in trading accounts | Short-term investments.
Assets:
Trading securities	40,152,000	21,401,000
Recurring basis | Fair Value | Foreign equity mutual fund | Short-term investments.
Assets:
Trading securities	19,831,000
Recurring basis | Fair Value | Collateralized loan obligation | Short-term investments.
Assets:
Trading securities	9,791,000
Recurring basis | Fair Value | Other | Other current assets
Assets:
Trading securities	3,104,000	2,676,000
Recurring basis | Fair Value | Corporate bonds | Short-term investments.
Assets:
Available-for-sale securities		11,015,000
Recurring basis | Fair Value | U.S. Government agency securities | Short-term investments.
Assets:
Available-for-sale securities		9,666,000
Recurring basis | Fair Value | Other available-for-sale securities | Short-term investments.
Assets:
Available-for-sale securities		3,983,000
Recurring basis | Fair Value | Other trading investments | Short-term investments.
Assets:
Trading securities	3,391,000	5,393,000
Recurring basis | Fair Value | Fixed income mutual funds | Other current assets
Assets:
Trading securities	3,366,000	4,570,000
Recurring basis | Level 1
Assets:
Total Assets	612,182,000	335,140,000
Liabilities:
Liabilities	21,739,000	1,779,000
Recurring basis | Level 1 | Commodities
Assets:
Derivatives	9,639,000	6,136,000
Liabilities:
Derivatives	21,739,000	1,779,000
Recurring basis | Level 1 | Money market funds | Short-term investments.
Assets:
Available-for-sale securities	100,648,000	142,432,000
Recurring basis | Level 1 | Domestic equity securities | Short-term investments.
Assets:
Trading securities	158,815,000
Recurring basis | Level 1 | Domestic equity securities | Other current assets
Assets:
Trading securities	34,044,000	33,857,000
Recurring basis | Level 1 | Domestic equity mutual fund | Short-term investments.
Assets:
Trading securities	80,525,000	82,542,000
Recurring basis | Level 1 | Domestic equity ETF | Short-term investments.
Assets:
Trading securities	77,443,000	32,651,000
Recurring basis | Level 1 | Foreign equity securities | Short-term investments.
Assets:
Trading securities	76,669,000
Recurring basis | Level 1 | Foreign equity securities | Other current assets
Assets:
Trading securities	6,246,000	6,532,000
Recurring basis | Level 1 | Money market funds held in trading accounts | Short-term investments.
Assets:
Trading securities	40,152,000	21,401,000
Recurring basis | Level 1 | Foreign equity mutual fund | Short-term investments.
Assets:
Trading securities	19,831,000
Recurring basis | Level 1 | Other | Other current assets
Assets:
Trading securities	2,617,000	2,405,000
Recurring basis | Level 1 | Other trading investments | Short-term investments.
Assets:
Trading securities	2,187,000	2,614,000
Recurring basis | Level 1 | Fixed income mutual funds | Other current assets
Assets:
Trading securities	3,366,000	4,570,000
Recurring basis | Level 2
Assets:
Total Assets	135,375,000	210,872,000
Liabilities:
Liabilities	10,131,000	8,122,000
Recurring basis | Level 2 | Interest rate swaps
Liabilities:
Derivatives	8,714,000	7,715,000
Recurring basis | Level 2 | Foreign currencies
Assets:
Derivatives	1,715,000	1,675,000
Liabilities:
Derivatives	1,417,000	407,000
Recurring basis | Level 2 | High yield trading debt securities | Short-term investments.
Assets:
Trading securities	122,178,000	181,483,000
Recurring basis | Level 2 | Collateralized loan obligation | Short-term investments.
Assets:
Trading securities	9,791,000
Recurring basis | Level 2 | Other | Other current assets
Assets:
Trading securities	487,000	271,000
Recurring basis | Level 2 | Corporate bonds | Short-term investments.
Assets:
Available-for-sale securities		11,015,000
Recurring basis | Level 2 | U.S. Government agency securities | Short-term investments.
Assets:
Available-for-sale securities		9,666,000
Recurring basis | Level 2 | Other available-for-sale securities | Short-term investments.
Assets:
Available-for-sale securities		3,983,000
Recurring basis | Level 2 | Other trading investments | Short-term investments.
Assets:
Trading securities	$ 1,204,000	$ 2,779,000

Derivatives and Fair Value of28

Derivatives and Fair Value of Financial Instruments-Derivatives (Details)	9 Months Ended	12 Months Ended
	Oct. 03, 2015USD ($)leaseagreementTlbgalbu	Dec. 31, 2014USD ($)agreementTlbgalbu	Dec. 31, 2010USD ($)agreement
Net commodity purchase contracts | Grain
Derivative commodity instruments
Nonmonetary notional amount | bu	17,228,000	10,697,000
Net commodity purchase contracts | Sugar
Derivative commodity instruments
Nonmonetary notional amount	9,438,000	15,551,000
Net commodity purchase contracts | Hogs
Derivative commodity instruments
Nonmonetary notional amount	7,960,000	19,800,000
Net commodity purchase contracts | Soybean oil
Derivative commodity instruments
Nonmonetary notional amount	7,260,000	19,620,000
Net commodity purchase contracts | Dry whey powder
Derivative commodity instruments
Nonmonetary notional amount	704,000	88,000
Net commodity purchase contracts | Soybean meal
Derivative commodity instruments
Nonmonetary notional amount | T	276,000	85,000
Net commodity purchase contracts | Cheese
Derivative commodity instruments
Nonmonetary notional amount	40,000
Net commodity sale contracts | Heating oil
Derivative commodity instruments
Nonmonetary notional amount | gal	2,940,000	4,326,000
Foreign currencies
Derivative commodity instruments
Notional amounts | $	$ 66,084,000	$ 143,961,000
Interest rate swaps
Derivative commodity instruments
Notional amounts | $	$ 141,000,000	$ 163,000,000	$ 25,000,000
Number of derivative agreements | agreement	6	7	3
Term of derivative contract			10 years
Eight-year interest rate exchange agreements
Derivative commodity instruments
Notional amounts | $	$ 22,000,000
Number of derivative agreements | agreement		4
Number of dry bulk vessel leases | lease	4
Term of derivative contract		8 years
Number of derivative agreements terminated | agreement	1

Derivatives and Fair Value of29

Derivatives and Fair Value of Financial Instruments-Counterparty Risk (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 03, 2015USD ($)item	Sep. 27, 2014USD ($)	Oct. 03, 2015USD ($)item	Sep. 27, 2014USD ($)
Commodities | Cost of sales
Amount of gain or (loss) recognized for each type of derivative and its location in the Consolidated Statements of Comprehensive Income
Amount of Gain or (Loss) Recognized in Income on Derivatives	$ (15,945)	$ (296)	$ (18,007)	$ 3,082
Foreign currencies
Amount of gain or (loss) recognized for each type of derivative and its location in the Consolidated Statements of Comprehensive Income
Loss due to credit risk associated with derivative contracts			$ 1,715
Number of counterparties | item	3		3
Foreign currencies | Cost of sales
Amount of gain or (loss) recognized for each type of derivative and its location in the Consolidated Statements of Comprehensive Income
Amount of Gain or (Loss) Recognized in Income on Derivatives	$ 3,820	1,957	$ 5,241	4,770
Foreign currencies | Foreign currency
Amount of gain or (loss) recognized for each type of derivative and its location in the Consolidated Statements of Comprehensive Income
Amount of Gain or (Loss) Recognized in Income on Derivatives	352	3,145	1,954	2,725
Interest rate swaps
Amount of gain or (loss) recognized for each type of derivative and its location in the Consolidated Statements of Comprehensive Income
Loss due to credit risk associated with derivative contracts			0
Interest rate swaps | Miscellaneous, net
Amount of gain or (loss) recognized for each type of derivative and its location in the Consolidated Statements of Comprehensive Income
Amount of Gain or (Loss) Recognized in Income on Derivatives	$ (4,994)	$ 91	$ (6,117)	$ (3,804)

Derivatives and Fair Value of30

Derivatives and Fair Value of Financial Instruments-Derivatives Fair Value (Details) - USD ($)	Oct. 03, 2015	Dec. 31, 2014
Commodities
Fair value of each type of derivative and its location in the Consolidated Balance Sheets
Margin account	$ 34,852,000	$ 4,314,000
Commodities | Other current assets
Fair value of each type of derivative and its location in the Consolidated Balance Sheets
Asset Derivatives	9,639,000	6,136,000
Derivative assets and liabilities, net basis	22,949,000	9,267,000
Commodities | Other current liabilities
Fair value of each type of derivative and its location in the Consolidated Balance Sheets
Liability Derivatives	21,739,000	1,779,000
Derivative assets and liabilities, net basis	197,000	596,000
Foreign currencies | Other current assets
Fair value of each type of derivative and its location in the Consolidated Balance Sheets
Asset Derivatives	1,715,000	1,675,000
Foreign currencies | Other current liabilities
Fair value of each type of derivative and its location in the Consolidated Balance Sheets
Liability Derivatives	1,417,000	407,000
Interest rate swaps | Other current liabilities
Fair value of each type of derivative and its location in the Consolidated Balance Sheets
Liability Derivatives	$ 8,714,000	$ 7,715,000

Employee Benefits (Details)

Employee Benefits (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 03, 2015USD ($)plan	Sep. 27, 2014USD ($)	Oct. 03, 2015USD ($)plan	Sep. 27, 2014USD ($)
Components of net periodic benefit cost:
Service cost	$ 2,500	$ 1,924	$ 7,442	$ 5,784
Interest cost	2,592	2,404	7,729	7,225
Expected return on plan assets	(2,179)	(2,173)	(6,467)	(6,537)
Amortization and other	1,379	524	3,505	1,575
Net periodic benefit cost	$ 4,292	$ 2,679	$ 12,209	$ 8,047
Defined benefit pension plan
Target allocation and pension plan asset allocation
Number of defined benefit plans | plan	2		2
Contributions expected to be made to defined benefit pension plans			$ 0

Notes Payable, Long-term Debt32

Notes Payable, Long-term Debt, Commitments and Contingencies (Details)

Jul. 02, 2015item

Apr. 29, 2015item

Oct. 17, 2014item

Sep. 18, 2014item

Aug. 29, 2014USD ($)

Oct. 03, 2015USD ($)item

Oct. 03, 2015USD ($)

Sep. 27, 2014USD ($)

Oct. 28, 2015USD ($)

Oct. 23, 2015USD ($)

Sep. 22, 2015USD ($)

May. 13, 2015USD ($)

Sep. 19, 2012item

Debt Instrument

Principal payments of long-term debt

$ 91,403,000

Contingencies

Number of foreign companies, where records requested by court | item

37

Number of subpoenas | item

2

Number of entities, where records requested by court | item

8

9

Number of individuals, where records requested by court | item

5

1

1

Number of search warrants executed authorizing the seizure of certain records from Seaboard's offices in Merriam, Kansas and at the Seaboard Foods employment office and the human resources department in Guymon, Oklahoma. | item

3

Number of civil or criminal proceedings or charges filed | item

0

Pork Processing Plant In Sioux City Iowa

Contingencies

Agreed contribution

$ 207,400,000

Contributions on contractual obligation

$ 14,900,000

$ 14,900,000

Pork Processing Plant In Sioux City Iowa | Forecast

Contingencies

Contribution on contractual obligation

10,800,000

Uncommitted bank lines

Debt Instrument

Letters of credit outstanding

$ 3,107,000

$ 3,107,000

Uncommitted bank lines | Commodity Trading and Milling

Debt Instrument

Maximum capacity

$ 50,000,000

Committed bank line

Debt Instrument

Maximum capacity of cancelled credit facility

$ 200,000,000

Committed bank line | Commodity Trading and Milling

Debt Instrument

Maximum capacity of expired credit facility

$ 50,000,000

Credit Agreement

Debt Instrument

Principal payments of long-term debt

$ 85,500,000

Credit Agreement | Interest expense.

Debt Instrument

Fee for early payment

$ 3,760,000

Stockholders' Equity and Accu33

Stockholders' Equity and Accumulated Other Comprehensive Loss (Details) - USD ($)	Jun. 19, 2014	Dec. 31, 2012	Oct. 03, 2015	Sep. 27, 2014	Oct. 03, 2015	Sep. 27, 2014	Dec. 31, 2012	Oct. 21, 2015	Dec. 31, 2014
Stockholders' Equity and Accumulated Other Comprehensive Loss
Remaining authorized repurchase amount under November 2009 share repurchase program			$ 50,846,000		$ 50,846,000
Stock repurchase programs, authorized amount								$ 100,000,000
Common stock dividend declared and paid (in dollars per share)		$ 12
Common stock dividend historical amount on a quarterly basis (in dollars per share)							$ 0.75
Common stock dividend historical amount on annual basis (in dollars per share)							$ 3
Portion of dividend serving as prepayment for next succeeding year (in dollars per share)		3
Portion of dividend serving as prepayment for second succeeding year (in dollars per share)		3
Portion of dividend serving as prepayment for third succeeding year (in dollars per share)		3
Portion of dividend serving as prepayment for fourth succeeding year (in dollars per share)		$ 3
Changes in the components of other comprehensive loss (OCL), net of related taxes
Foreign currency translation adjustment			(7,001,000)	$ (3,120,000)	(21,795,000)	$ (32,685,000)
Investments:
Unrealized gain			(347,000)	274,000	400,000	842,000
Amount reclassified from OCL to net earnings			5,000	(379,000)	(68,000)	77,000
Unrealized gain (loss) on investments			(342,000)	(105,000)	332,000	919,000
Unrealized gain (loss) on cash flow hedges				149,000		235,000
Pension Cost:
Unrealized gain (loss)			(23,000)		260,000
Amount reclassified from OCL to net earnings			961,000	320,000	2,905,000	960,000
Unrecognized pension cost			938,000	320,000	3,165,000	960,000
Other comprehensive loss, net of tax			(6,405,000)	(2,756,000)	(18,298,000)	$ (30,571,000)
Components of accumulated other comprehensive loss, net of related taxes
Accumulated other comprehensive loss			(270,935,000)		$ (270,935,000)				$ (252,637,000)
Income tax rate for foreign currency translation gains and losses (as a percent)					35.00%	35.00%
Cumulative foreign currency translation adjustment, net of related taxes			71,917,000	50,801,000	$ 71,917,000	$ 50,801,000
Tax benefit recorded on foreign currency translation adjustments					0	0
Tax benefit recorded on unrecognized pension cost					$ 0	$ 0
Effective income tax rate for components of accumulated other comprehensive loss (as a percent)					39.00%	39.00%
Unrecognized pension cost related to employees at certain subsidiaries			19,175,000	$ 8,415,000	$ 19,175,000	$ 8,415,000
Argentine pesos | Sugar
Components of accumulated other comprehensive loss, net of related taxes
Net assets of Sugar segment			110,743,000		110,743,000
U.S. dollars | Sugar
Components of accumulated other comprehensive loss, net of related taxes
Net liabilities			966,000		966,000
Common Stock
Stockholders' Equity and Accumulated Other Comprehensive Loss
Repurchase of common stock (in shares)	16,738
Share price	$ 2,950
Repurchase of common stock	$ 49,377,000
Cumulative foreign currency translation adjustment
Components of accumulated other comprehensive loss, net of related taxes
Accumulated other comprehensive loss			(215,832,000)		(215,832,000)				(194,037,000)
Unrealized gain on investments
Components of accumulated other comprehensive loss, net of related taxes
Accumulated other comprehensive loss			1,666,000		1,666,000				1,334,000
Unrecognized pension cost
Components of accumulated other comprehensive loss, net of related taxes
Accumulated other comprehensive loss			$ (56,769,000)		$ (56,769,000)				$ (59,934,000)

Segment Information-Narrative (

Segment Information-Narrative (Details)	Sep. 27, 2014USD ($)	Jan. 01, 2014USD ($)	Jul. 04, 2015USD ($)MW	Sep. 27, 2014USD ($)	Sep. 28, 2013USD ($)	Oct. 03, 2015USD ($)	Jul. 04, 2015USD ($)MW	Sep. 27, 2014USD ($)$ / shares	Jul. 04, 2015USD ($)MW	Oct. 03, 2015USD ($)item	Sep. 27, 2014USD ($)	Dec. 31, 2014USD ($)item	Sep. 03, 2014MW	Dec. 31, 2006USD ($)
Segment Information
Net proceeds from sale of controlling interest in subsidiary											$ 72,500,000
Gain on sale of controlling interest in subsidiary								$ 64,392,000			64,392,000
Amount contributed as additional equity to provide additional working capital to equity method investee										$ 77,677,000	22,083,000
Notes receivable from affiliates						$ 196,087,000				196,087,000		$ 197,270,000
Income (loss) from affiliates						16,026,000		9,892,000		39,062,000	25,293,000
Total investment in affiliate						635,949,000				635,949,000		543,411,000
Pork
Segment Information
Income (loss) from affiliates						2,087,000				8,576,000
Total investment in affiliate						101,592,000				101,592,000		79,832,000
Commodity Trading and Milling
Segment Information
Income (loss) from affiliates						(18,720,000)		(4,729,000)		(43,916,000)	(6,934,000)
Total investment in affiliate						196,736,000				196,736,000		$ 178,344,000
Commodity Trading and Milling | Democratic Republic of Congo
Segment Information
Percentage of ownership interest accounted as equity method investment												50.00%
Payment received from interest bearing long-term notes			$ 0
Power
Segment Information
Income (loss) from affiliates						1,971,000		400,000		2,096,000	1,354,000
Total investment in affiliate						32,444,000				32,444,000		$ 20,348,000
Power | Dominican Republic
Segment Information
Percentage of ownership interest accounted as equity method investment			29.90%				29.90%		29.90%
Amount invested for acquiring non-controlling interest							$ 10,000,000		$ 10,000,000
Capacity of power facility leased (in megawatts) | MW			300				300		300				72
Gain on sale of assets								4,953,000
Amount invested under cost method														$ 5,910,000
Power | Dominican Republic | Change in accounting method
Segment Information
Increase in investment in affiliates		$ 12,691,000
Turkey
Segment Information
Income (loss) from affiliates						30,097,000		14,333,000		70,122,000	30,237,000
Total investment in affiliate						283,493,000				283,493,000		244,560,000
Marine
Segment Information
Income (loss) from affiliates						504,000				1,570,000
Total investment in affiliate						18,356,000				18,356,000		17,333,000
Butterball, LLC | Long-term note receivable
Segment Information
Notes receivable from affiliates						154,000,000				154,000,000
Butterball, LLC | Turkey
Segment Information
Net sales						511,125,000		486,971,000		1,299,562,000	1,218,402,000
Operating income (loss)						68,997,000		$ 35,881,000		162,956,000	$ 85,311,000
Total assets						1,074,210,000				1,074,210,000		1,021,182,000
Bakery business | Democratic Republic of Congo
Segment Information
Total investment in affiliate						58,712,000				$ 58,712,000
Bakery business | Democratic Republic of Congo | Supplier concentration risk
Segment Information
Number of suppliers | item										1
Bakery business | Commodity Trading and Milling | Democratic Republic of Congo
Segment Information
Due from affiliates						34,556,000				$ 34,556,000
Flour production in Brazil | Commodity Trading and Milling | Brazil
Segment Information
Percentage of ownership interest accounted as equity method investment					50.00%
Amount contributed as additional equity to provide additional working capital to equity method investee						17,735,000				23,289,000
Amount invested for acquiring non-controlling interest					$ 17,000,000
Income (loss) from affiliates						(4,296,000)				(26,209,000)
Reserve on remaining portion of advances and long-term notes receivable						12,937,000				22,282,000
Third party debt						27,481,000				27,481,000
Total investment in affiliate						0				0		11,669,000
Due from affiliates						22,042,000				22,042,000		13,969,000
Bad debt expense for receivable from affiliates						5,700,000
Reserve for receivable from affiliates						$ 8,700,000				$ 8,700,000
Flour production in Brazil | Commodity Trading and Milling | Brazil | Long-term note receivable
Segment Information
Notes receivable from affiliates					$ 13,000,000							$ 13,849,000
Flour production in Brazil | Flour | Long-term note receivable
Segment Information
Interest received in cash (as a percent)					50.00%
Interest receivable in kind (as a percent)					50.00%
Cargo terminal operator in Jamaica | Marine
Segment Information
Percentage of ownership interest accounted as equity method investment	21.00%			21.00%				21.00%			21.00%
Amount invested for acquiring non-controlling interest				$ 17,333,000
Daily's
Segment Information
Number of processing units | item												2
Daily's | Pork
Segment Information
Percentage of ownership interest accounted as equity method investment	50.00%			50.00%				50.00%			50.00%
Divestiture of a 50% interest in Daily's | Triumph | Pork
Segment Information
Percentage of ownership interest sold	50.00%			50.00%				50.00%			50.00%
Net proceeds from sale of controlling interest in subsidiary	$ 72,500,000
Gain on sale of controlling interest in subsidiary	$ 64,392,000
Divestiture of a 50% interest in Daily's | Disposed of by Sale | Triumph | Pork
Segment Information
Percentage of ownership interest sold	50.00%			50.00%				50.00%			50.00%
Gain on sale of controlling interest in subsidiary								$ 64,392,000
Gain on sale of controlling interest in subsidiary, net of tax								$ 39,279,000
Gain on sale of controlling interest in subsidiary (in dollars per share) | $ / shares								$ 33.56

Segment Information-Information

Segment Information-Information by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Oct. 03, 2015	Sep. 27, 2014	Oct. 03, 2015	Sep. 27, 2014	Dec. 31, 2014
Segment Information
Sales to External Customers:	$ 1,410,773	$ 1,622,641	$ 4,291,017	$ 4,796,868
Operating Income (Loss):	22,951	96,086	82,452	295,628
Income (Loss) from Affiliates:	16,026	9,892	39,062	25,293
Total Assets:	3,804,233		3,804,233		$ 3,691,758
Investment in and Advances to Affiliates:	635,949		635,949		543,411
Pork
Segment Information
Sales to External Customers:	347,137	454,927	999,284	1,303,752
Operating Income (Loss):	25,895	70,400	60,828	241,090
Income (Loss) from Affiliates:	2,087		8,576
Total Assets:	809,716		809,716		821,172
Investment in and Advances to Affiliates:	101,592		101,592		79,832
Commodity Trading and Milling
Segment Information
Sales to External Customers:	755,750	858,497	2,355,026	2,562,001
Operating Income (Loss):	(4,463)	13,309	7,399	43,502
Income (Loss) from Affiliates:	(18,720)	(4,729)	(43,916)	(6,934)
Total Assets:	972,480		972,480		1,103,461
Investment in and Advances to Affiliates:	196,736		196,736		178,344
Marine
Segment Information
Sales to External Customers:	230,328	205,260	708,667	616,684
Operating Income (Loss):	(2,314)	(4,564)	9,916	(15,013)
Income (Loss) from Affiliates:	504		1,570
Total Assets:	299,547		299,547		283,276
Investment in and Advances to Affiliates:	18,356		18,356		17,333
Sugar
Segment Information
Sales to External Customers:	48,938	47,786	139,304	145,128
Operating Income (Loss):	3,024	6,280	8,016	22,695
Income (Loss) from Affiliates:	87	(112)	614	636
Total Assets:	186,371		186,371		198,271
Investment in and Advances to Affiliates:	3,328		3,328		2,994
Power
Segment Information
Sales to External Customers:	25,078	51,622	77,719	158,503
Operating Income (Loss):	3,121	15,044	10,097	19,489
Income (Loss) from Affiliates:	1,971	400	2,096	1,354
Total Assets:	231,599		231,599		219,604
Investment in and Advances to Affiliates:	32,444		32,444		20,348
Turkey
Segment Information
Income (Loss) from Affiliates:	30,097	14,333	70,122	30,237
Total Assets:	445,024		445,024		393,425
Investment in and Advances to Affiliates:	283,493		283,493		244,560
All Other
Segment Information
Sales to External Customers:	3,542	4,549	11,017	10,800
Operating Income (Loss):	673	531	1,016	860
Total Assets:	6,695		6,695		5,887
Segment Totals
Segment Information
Operating Income (Loss):	25,936	101,000	97,272	312,623
Total Assets:	2,951,432		2,951,432		3,025,096
Corporate Items
Segment Information
Operating Income (Loss):	(2,985)	$ (4,914)	(14,820)	$ (16,995)
Total Assets:	$ 852,801		$ 852,801		$ 666,662