Seaboard (SEB) 10-K 25 Feb 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Jan. 29, 2016	Jul. 02, 2015
Document and Entity Information
Entity Registrant Name	SEABOARD CORP /DE/
Entity Central Index Key	88,121
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			$ 925,986,642
Entity Common Stock, Shares Outstanding		1,170,550
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY

Consolidated Statement of Compr

Consolidated Statement of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Net sales:
Products (includes sales to affiliates of $835, $846 and $745)	$ 4,515	$ 5,373	$ 5,431
Service revenues	973	906	953
Other	106	194	286
Total net sales	5,594	6,473	6,670
Cost of sales and operating expenses:
Products	4,244	4,818	5,090
Services	866	813	878
Other	88	164	234
Total cost of sales and operating expenses	5,198	5,795	6,202
Gross income (loss)	396	678	468
Selling, general and administrative expenses	270	254	264
Operating income (loss)	126	424	204
Other income (expense):
Interest expense	(18)	(20)	(11)
Interest income	40	14	18
Interest income from affiliates	29	27	25
Income (loss) from affiliates	70	37	(4)
Other investment income (loss), net	(5)	2	8
Foreign currency gains (losses), net	1	(9)
Gain (loss) on sale of controlling interest in subsidiary		66
Miscellaneous, net	(2)	(5)	6
Total other income (loss), net	115	112	42
Earnings (loss) before income taxes	241	536	246
Income tax (expense) benefit	(69)	(168)	(32)
Net earnings (loss)	172	368	214
Less: Net (income) loss attributable to noncontrolling interests	(1)	(1)	(2)
Net earnings (loss) attributable to Seaboard	$ 171	$ 367	$ 212
Earnings (loss) per common share (in dollars per share)	$ 146.44	$ 311.44	$ 177.53
Other comprehensive income (loss), net of income tax benefit of $0, $27 and $(10):
Foreign currency translation adjustment	$ (34)	$ (39)	$ (46)
Unrealized gain (loss) on investments		1	(1)
Unrecognized pension cost	9	(33)	37
Other comprehensive loss, net of tax	(25)	(71)	(10)
Comprehensive income (loss)	147	297	204
Less: Comprehensive (income) loss attributable to noncontrolling interests	(1)	(1)	(2)
Comprehensive income (loss) attributable to Seaboard	$ 146	$ 296	$ 202
Average number of shares outstanding (in shares)	1,170,550	1,178,441	1,193,801

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Consolidated Statement of Comprehensive Income
Products, sales to affiliates	$ 835	$ 846	$ 745
Other comprehensive income (loss), income tax benefit (expense)	$ 0	$ 27	$ (10)

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 50	$ 36
Short-term investments	1,254	491
Receivables:
Trade	330	328
Due from affiliates	86	202
Other	115	116
Total receivables	531	646
Allowance for doubtful accounts	(21)	(12)
Net receivables	510	634
Inventories	739	736
Deferred income taxes		46
Other current assets	111	110
Total current assets	2,664	2,053
Net property, plant and equipment	831	847
Investments in and advances to affiliates	671	543
Notes receivable from affiliates	200	197
Goodwill	12	15
Other intangible assets, net	3	4
Other non-current assets	50	33
Total assets	4,431	3,692
Current liabilities:
Notes payable to banks	141	76
Current maturities of long-term debt	4
Accounts payable	200	182
Payables due to affiliates	39	32
Accrued compensation and benefits	121	126
Deferred revenue	47	44
Deferred revenue from affiliates	46	7
Accrued voyage costs	44	45
Accrued commodity inventory	26	30
Other current liabilities	98	93
Total current liabilities	766	635
Long-term debt, less current maturities	518
Accrued pension liability	132	136
Deferred income taxes	41	96
Other liabilities and deferred credits	92	90
Total non-current liabilities	$ 783	$ 322
Commitments and contingent liabilities
Stockholders' equity:
Common stock of $1 par value. Authorized 1,250,000 shares; issued and outstanding 1,170,550	$ 1	$ 1
Accumulated other comprehensive income (loss)	(278)	(253)
Retained earnings	3,153	2,982
Total Seaboard stockholders' equity	2,876	2,730
Noncontrolling interests	6	5
Total equity	2,882	2,735
Total liabilities and stockholders' equity	$ 4,431	$ 3,692

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 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

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net earnings (loss)	$ 172	$ 368	$ 214
Adjustments to reconcile net earnings to cash from operating activities:
Depreciation and amortization	91	92	93
(Gain) loss from sale of fixed assets		(3)	(4)
(Gain) loss on sale of power generating facility assets		(5)
Deferred income taxes	(10)	26	30
Pay-in-kind interest and accretion on notes receivable from affiliates	(17)	(16)	(14)
(Income) loss from affiliates	(70)	(37)	4
Dividends received from affiliates	69	14	11
Other investment income (loss), net	5	(2)	(8)
(Gain) loss on sale of controlling interest in a subsidiary		(66)
Other, net	5		1
Changes in assets and liabilities:
Receivables, net of allowance	119	(7)	(154)
Inventories	(35)	(81)	36
Other current assets	(3)	24	(13)
Current liabilities, exclusive of debt	75	44	(73)
Other, net	15	23	2
Net cash from operating activities	416	374	125
Cash flows from investing activities:
Purchase of short-term investments	(1,320)	(1,097)	(612)
Proceeds from the sale of short-term investments	526	876	625
Proceeds from the maturity of short-term investments	29	18	6
Capital expenditures	(139)	(121)	(150)
Proceeds from the sale of fixed assets	48	8	15
Proceeds from the sale of power generating facility assets		8
Investments in and advances to affiliates, net	(119)	(31)	(39)
Long-term notes receivable issued to affiliates		(1)	(17)
Principal payments received on long-term notes receivable from affiliates		1	81
Principal payments received on notes receivable	2	2	19
Purchase of long-term investments	(28)	(3)	(4)
Proceeds from the sale of controlling interest in a subsidiary		74
Other, net	(3)	1	(2)
Net cash from investing activities	(1,004)	(265)	(78)
Cash flows from financing activities:
Notes payable to banks, net	83	17	41
Proceeds from long-term debt	522
Principal payments of long-term debt		(91)	(54)
Repurchase of common stock		(53)	(24)
Other, net		(2)	(1)
Net cash from financing activities	605	(129)	(38)
Effect of exchange rate change on cash	(3)	1	(2)
Net change in cash and cash equivalents	14	(19)	7
Cash and cash equivalents at beginning of year	36	55	48
Cash and cash equivalents at end of period	$ 50	$ 36	$ 55

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) $ in Millions	Common Stock	Accumulated Other Comprehensive Loss	Retained Earnings	Noncontrolling Interest	Total
Balances at Dec. 31, 2012	$ 1	$ (172)	$ 2,475	$ 4	$ 2,308
Comprehensive income:
Net earnings (loss)			212	2	214
Other comprehensive loss, net of tax		(10)			(10)
Repurchase of common stock			(24)		(24)
Addition of (Reduction to) noncontrolling interests			(1)		(1)
Balances at Dec. 31, 2013	1	(182)	2,668	6	2,493
Increase (Decrease) in Stockholders' Equity
Cumulative effect of a change in accounting method (see Note 1)			6		6
Comprehensive income:
Net earnings (loss)			367	1	368
Other comprehensive loss, net of tax		(71)			(71)
Repurchase of common stock			(53)		(53)
Dividends paid to noncontrolling interests				(2)	(2)
Balances at Dec. 31, 2014	1	(253)	2,982	5	2,735
Comprehensive income:
Net earnings (loss)			171	1	172
Other comprehensive loss, net of tax		(25)			(25)
Balances at Dec. 31, 2015	$ 1	$ (278)	$ 3,153	$ 6	$ 2,882

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	Note 1 Summary of Significant Accounting Policies Operations of Seaboard Corporation and its Subsidiaries Seaboard Corporation and its subsidiaries (“Seaboard”) is a diverse global agribusiness and transportation company. In the United States (“U.S.”), Seaboard is primarily engaged in pork production and processing and ocean transportation. Overseas, Seaboard is primarily engaged in commodity merchandising, grain processing, sugar production, and electric power generation. Seaboard also has an interest in a turkey operation in the U.S. Seaboard Flour LLC and SFC Preferred LLC, entities owned by the chief executive officer and his family, hold approximately 76% of Seaboard’s outstanding common stock. Principles of Consolidation and Investments in Affiliates The consolidated financial statements include the accounts of Seaboard Corporation and its domestic and foreign subsidiaries. All significant inter-company balances and transactions have been eliminated in consolidation. Investments in non-controlled affiliates are accounted for by the equity method. Financial information from certain foreign subsidiaries and affiliates is reported on a one - to three -month lag, depending on the specific entity. Short-Term Investments Short-term investments are retained for future use in the business. Investments held by Seaboard that are categorized as available-for-sale are reported at their estimated fair value with any related unrealized gains and losses reported net of tax, as a component of accumulated other comprehensive loss. Investments held by Seaboard that are categorized as trading securities are reported at their estimated fair value with any unrealized gains and losses included in other investment income (loss), net on the Consolidated Statements of Comprehensive Income. Gains and losses on sale of investments are generally based on the specific identification method. Accounts Receivable Accounts receivable are recorded at the invoiced amount and generally do not bear interest. The Power segment, however, collects interest on certain past due accounts, and the Commodity Trading and Milling segment provides extended payment terms for certain customers in certain countries due to local market conditions. The allowance for doubtful accounts is Seaboard’s best estimate of the amount of probable credit losses. For most operating segments, Seaboard uses a specific identification approach to determine, in management’s judgment, the collection value of certain past due accounts based on contractual terms. For the Marine segment, the allowance for doubtful accounts is based on an aging percentage methodology primarily based on historical write-off experience. Seaboard reviews its allowance for doubtful accounts monthly. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. Inventories Seaboard uses the lower of last-in, first-out (“LIFO”) cost or market for determining inventory cost of live hogs, fresh pork product and related materials. Grain, flour and feed inventories at foreign milling operations are valued at the lower of weighted average cost or market. All other inventories, including further processed pork products, are valued at the lower of first-in, first-out (“FIFO”) cost or market. Property, Plant and Equipment Property, plant and equipment are carried at cost and are being depreciated on the straight-line method over useful lives, ranging from 3 to 30 years. Property, plant and equipment leases which are deemed to be installment purchase obligations have been capitalized and included in the property, plant and equipment accounts. Routine and planned major maintenance, repairs and minor renewals are expensed as incurred, while major renewals and improvements are capitalized. Impairment of Long-Lived Assets Long-lived assets, primarily property, plant and equipment, are reviewed for impairment when events or changes in circumstances indicate that the carrying amount may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the asset to future undiscounted net cash flows expected to be generated by the asset. If such assets are determined to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the estimated fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell. Notes Receivable from Affiliates Seaboard monitors the credit quality of notes receivable from its affiliates by obtaining and reviewing financial information for these affiliates on a monthly basis and by having Seaboard representatives serve on the Board of Directors of these affiliates. If based on current information and events it is probable that Seaboard will be unable to collect all amounts due according to the contractual terms of the notes receivable from affiliates and an amount can be reasonably estimated, Seaboard will write- down the notes receivable to estimated realizable value. Goodwill and Other Intangible Assets Goodwill is assessed annually for impairment by each reporting unit at the quarter end closest to the anniversary date of the acquisition, or more frequently if circumstances indicate that impairment is likely. Separable intangible assets with finite lives are amortized over their estimated useful lives. Any one event or a combination of events such as change in the business climate, a negative change in relationships with significant customers and changes to strategic decisions, including decisions to expand made in response to economic or competitive conditions could require an interim assessment prior to the next required annual assessment. Goodwill is related to the repurchase in 2007 of a noncontrolling interest of Seaboard Foods LLC (“Seaboard Foods”) in the Pork segment for a total of $12 million as of December 31, 2015 and 2014 . Based on the annual assessment conducted by this reporting unit during 2015 , there were no impairment charges recorded for the year ended December 31, 2015 . Accrued Self-Insurance Seaboard is self-insured for certain levels of workers’ compensation, health care coverage, property damage and general, vehicle and product recall liability. The cost of these self-insurance programs is accrued based upon estimated settlements for known and anticipated claims. Changes in estimates to previously recorded reserves are reflected in current operating results. Asset Retirement Obligation Seaboard has recorded long-lived assets and a related liability for the asset retirement obligation costs associated with the closure of the hog lagoons it is legally obligated to close in the future should Seaboard cease operations or plan to close such lagoons voluntarily in accordance with a changed operating plan. Based on detailed assessments and appraisals obtained to estimate the future asset retirement obligation costs, Seaboard recorded the present value of the projected costs in non-current other liabilities on the Consolidated Balance Sheets, with the retirement asset depreciated over the economic life of the related asset. The following table shows the changes in the asset retirement obligation during 2015 and 2014 : Years ended December 31, (Millions of dollars) 2015 2014 Beginning balance $ $ Accretion expense Ending balance $ $ Income Taxes Deferred income taxes are recognized for the tax consequences of temporary differences by applying enacted statutory tax rates applicable to future years to differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities. However, in the future, as these timing differences reverse, a lower statutory tax rate may apply pursuant to the provisions for domestic manufacturers of the American Jobs Creation Act of 2004. In accordance with U.S. generally accepted accounting principles (“GAAP”) , Seaboard will recognize the benefit or cost of this change in the future. Revenue Recognition As a result of a marketing agreement with Triumph Foods, LLC (“Triumph”), Seaboard’s sales prices for its pork products included in product revenues are primarily based on a margin sharing arrangement that considers the average sales price and mix of products sold from both Seaboard’s and Triumph’s hog processing plants. Seaboard earns a fee for marketing the pork products of Triumph, and recognizes this fee as service revenue primarily based on the number of head processed by Triumph. Revenues for the Commodity Trading and Milling Segment are recognized when the commodity is delivered to the customer, collection is reasonably assured and the sales price is fixed or determinable. Revenues for cargo services are recognized ratably over the transit time for each voyage, with expenses associated with cargo services recognized as incurred. Revenues for all other commercial exchanges are recognized at the time products are shipped or delivered in accordance with shipping terms or services rendered, the customer takes ownership and assumes risk of loss, collection is reasonably assured and the sales price is fixed or determinable. Use of Estimates The preparation of the consolidated financial statements in conformity with 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 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. Earnings Per Common Share Earnings per common share are based upon the weighted average shares outstanding during the period. Basic and diluted earnings per share are the same for all periods presented. Change in Accounting Method During the second quarter of 2015, Seaboard invested an additional $10 million 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 $6 million 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 required 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 $6 million adjustment to retained earnings and a corresponding increase to its investment as of January 1, 2013. There is no tax impact to Seaboard on these amounts. See Note 12 for more information. Cash and Cash Equivalents For purposes of the Consolidated Statements of Cash Flows, management considers all demand deposits and overnight investments as cash equivalents. The following table shows the amounts paid for interest and income taxes: Years ended December 31, (Millions of dollars) 2015 2014 2013 Interest $ $ $ Income taxes, net of refunds Supplemental Non-Cash Transactions As more fully described in Note 4, as of September 27, 2014 Seaboard’s Pork segment sold to Triumph a 50% interest in its processed meats division, Daily’s Premium Meats (“Daily’s”). As a result, Seaboard deconsolidated Daily’s from its Consolidated Balance Sheet as of September 27, 2014. The following table summarizes the non-cash transactions resulting from this deconsolidation: (Millions of dollars) Decrease in net working capital $ Increase in investment in and advances to affiliates Decrease in property, plant and equipment Decrease in goodwill Decrease in other intangible assets, net (not subject to amortization) Gain on sale of controlling interest in subsidiary Net proceeds from sale of controlling interest in subsidiary $ As discussed in Note 4, as of December 31, 2015 and 2014 , Seaboard has notes receivable from affiliates which accrue pay-in-kind interest income. Non-cash, pay-in-kind interest income and accretion of discount recognized on these notes receivable for the years ended December 31, 2015, 2014 and 2013 was $17 million , $16 million and $14 million , respectively. Foreign Currency Transactions and Translation Seaboard has operations in several foreign countries , and the currencies of the countries fluctuate in relation to the U.S. dollar. Certain of the major contracts and transactions, however, are denominated in U.S. dollars. In addition, the value of the U.S. dollar fluctuates in relation to the currencies of countries where certain of Seaboard’s foreign subsidiaries and affiliates primarily conduct business. These fluctuations result in exchange gains and losses. The activities of these foreign subsidiaries and affiliates are primarily conducted with U.S. subsidiaries or operate in hyper-inflationary environments. As a result, the financial statements of certain foreign subsidiaries and affiliates are re-measured using the U.S. dollar as the functional currency. Seaboard’s Sugar segment, three consolidated subsidiaries (Commodity Trading and Milling segment businesses in Canada, Guyana and Zambia) and nine non-controlled, non-consolidated affiliates (Marine segment business in Jamaica and Commodity Trading and Milling segment businesses in Australia, Brazil, Colombia, Kenya, Lesotho, South Africa and Zambia) use local currency as their functional currency. Assets and liabilities of these subsidiaries are translated to U.S. dollars at year-end exchange rates, and income and expenses are translated at average rates. Translation gains and losses are recorded as components of other comprehensive income (loss). For these entities, U.S. dollar denominated net asset or liability conversions to the local currency are recorded through income. Derivative Instruments and Hedging Activities Seaboard recognizes all derivatives as either assets or liabilities at their fair values. Accounting for changes in the fair value of a derivative depends on its designation and effectiveness. Derivatives qualify for treatment as hedges for accounting purposes when there is a high correlation between the change in fair value of the instrument and the related change in value of the underlying commitment. Additionally, in order to designate a derivative financial instrument as a hedge for accounting purposes, extensive record keeping is required. For derivatives that qualify as hedges for accounting purposes, the change in fair value has no net impact on earnings, to the extent the derivative is considered effective, until the hedged transaction affects earnings. For derivatives that are not designated as hedging instruments for accounting purposes, or for the ineffective portion of a hedging instrument, the change in fair value affects current period net earnings. Seaboard uses various derivative instruments to manage various types of market risks from its day-to-day operations, primarily including commodity futures and option contracts, foreign currency exchange agreements and interest rate exchange agreements. While management believes each of these instruments primarily are entered into in order to effectively manage various market risks, as of December 31, 2015 , none of the derivatives were designated and accounted for as hedges, primarily as a result of the extensive record-keeping requirements. Seaboard also enters into speculative derivative transactions not directly related to its raw material requirements. Recently Issued Accounting Standard Adopted In November 2015, the Financial Accounting Standards Board (“FASB”) issued simplification guidance that requires companies to classify all deferred tax assets and liabilities as non-current on the balance sheet instead of separating deferred taxes into current and non-current amounts. Since early adoption is permitted, Seaboard adopted this guidance as of December 31, 2015 using the prospective transition method. Seaboard reclassified its current deferred income tax assets to non-current deferred income tax liabilities as of December 31, 2015 on the Consolidated Balance Sheet. Prior periods were not retroactively adjusted. Recently Issued Accounting Standards Not Yet Adopted In May 2014, the 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 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 measured using last-in, first-out or the retail inventory method. Under the new standard, inventory should be recorded 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. In January 2016, the FASB issued guidance that requires entities to measure equity investments, other than those accounted for using the equity method of accounting, at fair value and recognize any changes in fair value in net income if a readily determinable fair value exists. For equity investments without readily determinable fair values, the cost method of accounting is also eliminated. An entity may elect to record these equity investments at cost, less impairment, and plus or minus subsequent adjustments for observable price changes. The new guidance is effective for interim and annual periods beginning after December 15, 2017. Seaboard is analyzing the impact of this new standard on certain of its equity investments and, at this time, cannot estimate the impact of adoption on net earnings .

Investments

Investments	12 Months Ended
	Dec. 31, 2015
Investments
Investments	Note 2 Investments 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 the end of each year : December 31, 2015 December 31, 2014 Amortized Fair Amortized Fair (Millions 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 Domestic debt securities Foreign equity securities — — High yield debt securities Money market funds held in trading accounts Collateralized loan obligation — — Other trading securities Total trading short-term investments Total short-term investments $ $ $ $ Unrealized losses related to trading securities were $(12) m illion, $(7) million and $(1) million for the years ended December 31, 2015, 2014 and 2013 , respectively. Seaboard had $80 million of equity securities denominated in foreign currencies at December 31, 2015, with $25 million in Euros, $20 million in Japanese Yen, $15 million in the British Pound, $7 million in the Swiss Franc and the remaining $13 million in various other currencies . Also , money market funds included $3 million and $8 m illion denominated in various foreign currencies a t December 31, 2015 and 2014 . In addition to its short-term investments, Seaboard also has trading securities related to Seaboard’s deferred compensation plans classified in other current assets on the Consolidated Balance Sheets. See Note 8 for information on the types of trading securities held related to the deferred compensation plans and Note 9 for a discussion of assets held in conjunction with investments related to Seaboard’s defined benefit pension plan. Seaboard had $20 million and $4 million of cost method investments classified in other non-current assets on the Consolidated Balance Sheets as of December 31, 2015 and 2014, respectively. During 2015, Seaboard invested $18 million for a 12% noncontrolling interest in a grain trading and poultry business in Morocco .

Inventories

Inventories	12 Months Ended
	Dec. 31, 2015
Inventories
Inventories	Note 3 Inventories The following table is a summary of inventories at the end of each year: December 31, (Millions 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 $ $ The use of the LIFO method increased 2015 , 2014 , and 2013 net earnings by $5 million ($4.39 per common share), $16 million ($13.29 per common share) , and by $17 million ($14.56 per common share), respectively. If the FIFO method had been used for certain inventories of the Pork segment, inventories would have been higher by $28 million and $37 million as of December 31, 2015 and 2014 , respectively.

Investments in and Advances to

Investments in and Advances to Affiliates and Notes Receivable from Affiliates	12 Months Ended
	Dec. 31, 2015
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Investments in and Advances to Affiliates and Notes Receivable from Affiliates	Note 4 Investments in and Advances to Affiliates and Notes Receivable from Affiliates Seaboard’s investments in and advances to non-controlled, non-consolidated affiliates are primarily related to Butterball, LLC ( “ Butterball ” ), as discussed below, Commodity Trading and Milling segment foreign businesses conducting flour, maize and feed milling, baking operations and poultry production and processing , and Daily’s and Seaboard Triumph Foods, LLC in the Pork segment, also discussed below. As of December 31, 2015 , the location and percentage ownership of these foreign affiliates are as follows: Botswana (49%) , Democratic Republic of Cong o (“ DRC ”) (50%) , Gambi a (50%) , Keny a (35% - 49% ), Lesoth o (50%) , Nigeri a (25% - 48% ), South Afric a (30% - 50% ) , and Zambi a (49%) in Africa; Brazi l (50%) , Colombi a (40% - 42% ) and Ecuado r (25% - 50% ) in South America, Jamaica (50%) and Hait i (23%) in the Caribbean , and Turkey (25%) in Europe. Also, Seaboard has investments in agricultural commodity trading businesses in Australia (25%) , Peru (50%) , Uruguay (45%) and United States ( 4 0 %) . Seaboard generally is the primary provider of choice for grains, feed and supplies purchased by these non-controlled affiliates. As Seaboard conducts its agricultural commodity trading business with third parties, consolidated subsidiaries and affiliates on an interrelated basis, cost of sales on affiliates cannot be clearly distinguished without making numerous assumptions, primarily with respect to mark-to-market accounting for commodity derivatives. In addition, Seaboard has investments in and advances to a cargo terminal business in Jamaic a (21%) in the Marine segment, two sugar-related businesses in Argentin a (46% - 50% ) in the Sugar segment , and one power related business in the Dominican Republic (29.9%) . The equity metho d is used to account for all of the above investments. Seaboard has a 50% noncontrolling voting interest in Butterball. Butterball is a vertically integrated producer, processor and marketer of branded and non-branded turkey and other products. As of December 31, 2015 , Butterball had intangible assets of $111 million for trade name and $74 million for goodwill. In connection with its initial investment in Butterball in December 2010, Seaboard provided Butterball with a $100 million unsecured subordinated loan (the “ subordinated loan ” ) with a seven -year maturity and interest of 15% per annum, comprised of 5% payable in cash semi-annually, plus 10% pay-in-kind interest, compounded semi-annually , which accumu lates and is paid at maturity. Also i n connection with providing the subordinated loan, Seaboard received detachable warrants, which upon exercise for a nominal price, would enable Seaboard to acquire an additional 5% equity interest in Butterball. In January 2016, the interest on the subordinated loan was modified to 10% per annum , payable in cash semi-annually and the warrants were also modified, whereby Seaboard can exerc ise these warrants at any time after December 31 , 20 18 or prior to December 31, 2025 after which time the warrants expire . Butterball has the right to repurchase the warrants for fair market value. The warrant agreement essentially provides Seaboard with a 52.5% economic interest, as these warrants are in substance an additional equity intere st. Therefore, Seaboard records 52.5% of But terball’s earnings as income from a ffiliates in the Consolidated Statements of Comprehensive Income. However, all significant corporate governance matters would continue to be shared equally between Seaboard and its partner in Butterball even if the warrants are exercised, unless Seaboard already owns a majority of the voting rights at the time of exercise. The warrants qualify for equity treatment under accounting standards. Accordingly, as of December 2010, the warrants were allocated a value of $11 million, classified as investments in and a dvances to a ffiliates on the Consolidated Balance Sheets, and the subordinated loan was allocated a discounted value of $89 million, classified as Notes Receivable from Affiliates on the Consolidated Balance Sheets, of the total $100 million subordinated financing discussed above. The discount on the subordinated loan is being accreted monthly in Interest Income From Affiliates through the maturity date of December 6, 2017. At December 31, 2015 and 2014 , the recorded balance of this Note Receivable from Affiliates was $158 million and $141 million, respectively. On December 31, 2012, Seaboard provided a loan of $81 million to Butterball and was included in Notes Receivable from Affiliates. This loan was made to fund Butterball’s purchase of assets from Gusto Packing Company, Inc., a pork and turkey further processor located in Montgomery, Illinois. In late March 2013, Bu tterball renegotiated its third- party financing and on March 28, 2013 repaid in full this loan from Seaboard. During the third quarter of 2011, Seaboard provided a term loan of $13 million to Butterball to pay off capital leases for certain fixed assets which originally were financed with third parties. The effective interest rate on this term loan is approximately 12% . Although the term loan expires on January 31, 2018, Butterball can pay off the term loan prior to such expiration date as Butterball has for sale all of the related assets and is required to remit the proceeds from such sale to Seaboard to repay the loan. As of December 31, 2015 and 2014 , the balance of the term loan included in Notes Receivable from Affiliates was $8 million. As of September 27, 2014, Seaboard’s Pork segment sold to Triumph a 50% interest in Daily’s for cash proceeds of $74 million r esulting in a gain on sale of controlling interest in subsidiary of $66 million ($40 million net of taxes, or $34.14 per share) in 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 Consolidated Balance Sheet as of September 27, 2014 (see Note 1, Supplemental Non-Cash Transactions, for details of the impact on the Consolidated Balance Sheet from this deconsolidation). Seaboard’s remaining 50% investment in Daily’s is accounted for in the Pork segment by using the equity method of accounting. Based on the cash consideration received for this transaction and third- party valuations for fixed assets and certain intangible assets, it was determined the fair value of Seaboard’s remaining 50% investment in Daily’s exceeded book value by $33 million, which is included in the gain on sale above, for a total fair value of $74 million. In addition, both Seaboard and Triumph contributed $2 million each to Daily’s as additional equity to provide Daily’s with additional working capital resulting in a beginning total investment in affiliate of $76 million related to Daily’s. Pro forma results of operations are not presented as the effects of deconsolidation are not material to Seaboard’s results of operations, primarily as Seaboard supplies raw product to Daily’s. Triumph also supplies raw product to Daily’s. It is expected that both Seaboard and Triumph will continue to sell raw product to Daily’s. On May 13, 2015, Seaboard’s Pork segment and Triumph entered into a new joint venture, Seaboard Triumph Foods, LLC, with equal ownership of 50% . This joint venture is constructing a new pork processing facility in Sioux City, Iowa, with construction expected to be completed by mid-2017. Seaboard agreed to contribute up to $207 million in connection with the development and operation of the facility. As of December 31, 2015, $26 million had been contributed and approximately $97 million is expected to be contributed in 2016, with the remainder due through 2019. The Commodity Trading and Milling segment has a 50% noncontrolling interest in a bakery located in the DRC, which began operations in the fourth quarter of 2012. As a result of continuing equipment problems, other production challenges and unfavorable local market conditions causing operating losses and challenges in gaining market share, Seaboard’s management determined achieving improved operating results would take significantly longer than initi ally 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 record ed a write-down of $11 million i n loss from affiliate in the fourth quarter of 2014, which represented the remaining equity investment in this business and suspended the use of the equity method as of December 31, 2014 . There was no tax benefit from t his transaction. As part of its original investment, Seaboard has an interest bearing long-term note receivable from this affili ate with the first payment due June 2015 and a final m aturity date of December 2020. No payments were received in 2015, 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. In addition, Seaboard discontinued recognizing further interest income on the note receivable duri ng the fourth quarter of 2014. As of December 31, 2015 , the recorded balance of this note receivable and previous accrued in terest was $35 million, all classified as long-term given uncertainty of the timing of payments in the future. Based on current cash flow projections, this note receivable was not impaired at December 31, 2015. If the future long-term cash flows of this bakery do not improve and forecasted cash flow projections are not met , 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. I ncluding this business, as of December 31, 2015, Seaboard had a total of $59 million 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 Seaboar d’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 million in a flour production business in Brazil for a 50% noncontrolling equity interest and provided a $13 million long-term loan to this business. Half of the interest on this long-term note receivable from affiliate is to be paid currently in cash and the other half accrues as pay-in-kind interest. This note receivable matures in September 2020 , but can be repaid after one year with Seaboard having the option to convert the note receivable to equity after one year , 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. In 2015 , Seaboard’s share of additional investment and advances totaled $28 million. This business, which has received additional third-party loans during 2015, incurred significant operating losses in 2015 and 2014. Seaboard recorded total losses from affiliate of $60 million and $8 million related to this investment in 2015 and 2014, respectively. Based on current discussions with the business’ other 50% shareholder and the executive management of the business, the extent of the losses and revised financial forecast of the business and the Brazilian economy, the halting of the construction plans for a new plant and the amount of existing third-party debt, Seaboard reserved $22 million for the year ended December 31, 2015, related to its advances and long-term note receivable. These charges were recorded as a reduction to income from affiliates in the Condensed Consolidated Statements of Comprehensive Income and were used to reduce Seaboard's investment in the business, advances and long-term note receivable to zero as of December 31, 2015. As of December 31, 2014, the recorded balance of this note receivable from affiliate was $14 million and Seaboard's equity investment and advances in this business was $12 million. Seaboard also had a gross trade receivable due from affiliate related to this business resulting from sales of grain and supplies of $17 million and $14 million as of December 31, 2015 and December 31, 2014, respectively. Seaboard recorded a reserve of $9 million related to the trade receivable during 2015 based on an analysis of collectability and working capital. 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 during 2016 at which time the entity would become consolidated . However, there is no certainty that Seaboard will successfully be able to obtain control. Included in the Commodity Trading and Milling Segment table below is Seaboard’s Brazil affiliate’s summarized financial information, which includes: net sales of $53 million and $114 million for 2015 and 2014, respectively, net loss of $69 million and $16 million for 2015 and 2014, respectively, total assets of $52 million and $101 million as of December 31, 2015 and 2014, respectively, and third-party debt of $16 million and $15 million, as of December 31, 2015 and 2014, respectively. This business is recorded on a three -month lag. During the fourth quarter of 2015, Seaboard contributed $13 million in cash , a small amount of other assets , certain employee s and rights to sell certain agricultural commodities that Seaboard had previously sold through its subsidiary, PS International , LLC, for a 40% noncontrolling interest in a commodity trading business in Atlanta, Georgia. Also in 2015, Seaboard invested $10 million in an oilseed crushing business in the Republic of Turkey for a 25% noncontrolling interest, $8 million in a flour milling business in Botswana for a 49% noncontrolling interest, and $10 million for a 45% noncontrolling interest in a commodity trading and flour milling business in Uruguay. During the second quarter of 2015, Seaboard invested an additional $10 million 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 $6 million initial investment from Corporate to the Power segment along with $6 million 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, 2013. See Note 12 for more information. In September 2014, Seaboard invested $17 million 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 repor ted on a three-month lag basis. Seaboard’s first proportionate share of earnings was recognized in the first quarter of 2015. I n September 2013, Seaboard invested $7 million in a flour milling business located in South Africa for a 49% noncontrolling interest. In July 2013, Seaboard acquired a 50% noncontrolling interest in a flour milling business located in Gambia by making a total investment in and advances to this affiliate of $9 million during 2013. Combined condensed financial information of the noncontrolled, non-consolidated affiliates for their fiscal periods ended within each of Seaboard’s years ended were as follows: Pork Segment December 31, (Millions of dollars) 2015 2014 2013 Net sales $ — Net income $ — Total assets $ — Total liabilities $ — Total equity $ — Commodity Trading and Milling Segment December 31, (Millions of dollars) 2015 2014 2013 Net sales $ Net income (loss) $ Total assets $ Total liabilities $ Total equity $ Marine Segment December 31, (Millions of dollars) 2015 2014 2013 Net sales $ — — Net income $ — — Total assets $ — Total liabilities $ — Total equity $ — Sugar Segment December 31, (Millions of dollars) 2015 2014 2013 Net sales $ Net income $ Total assets $ Total liabilities $ Total equity $ Power Segment December 31, (Millions of dollars) 2015 2014 2013 Net sales $ Net income $ Total assets $ Total liabilities $ Total equity $ Turkey Segment December 31, (Millions of dollars) 2015 2014 2013 Net sales $ Net income (loss) $ Total assets $ Total liabilities $ Total equity $ At December 31, 2015 , Seaboard’s carrying value of certain of these investments in affiliates was more than its share of the affiliate’s book value by $30 million in the Commodity Trading and Milling segment. The excess is attributable primarily to the valuation of property, plant and equipment and intangible assets. The amortizable assets are being amortized to income (loss) from affiliates over the remaining life of the assets.

Net Property, Plant and Equipme

Net Property, Plant and Equipment	12 Months Ended
	Dec. 31, 2015
Net Property, Plant and Equipment
Net Property, Plant and Equipment	Note 5 Net Property, Plant and Equipment The following table is a summary of property, plant and equipment at the end of each year: Useful December 31, (Millions of dollars) Lives 2015 2014 Land and improvements - 15 years $ $ Buildings and improvements 30 years Machinery and equipment - 20 years Vessels and vehicles - 18 years Office furniture and fixtures 5 years Construction in progress Accumulated depreciation and amortization Net property, plant and equipment $ $

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2015
Income Taxes
Income Taxes	Note 6 Income Taxes Income taxes attributable to continuing operations for the years ended December 31, 2015, 2014 and 2013 differed from the amounts computed by applying the statutory U.S. Federal income tax ra te of 35% to earning s before income taxes excluding noncontrolling interest s for the following reasons: Years ended December 31, (Millions of dollars) 2015 2014 2013 Computed “expected” tax expense excluding noncontrolling interests $ $ $ Adjustments to tax expense attributable to: Foreign tax differences Tax-exempt income State income taxes, net of federal benefit Federal tax credits Domestic manufacturing deduction Other — Total income tax expense $ $ $ Certain of Seaboard's foreign operations are subject to no income tax or a tax rate , which is considerably lower than the U.S. corporate tax rate. Fluctuation of earnings or losses incurred from certain foreign operations conducting business in these jurisdictions can impact the mix of taxable earnings for each fiscal year. The treatment of biodiesel production credits as tax-exempt income was clarified by the U.S. Internal Revenue Service ( “ IRS ” ) in 2013 for 2013 and prior years and thus the amount of benefit re cognized in 2013 above includes $17 million f or related refund claims for prior years not previously treated as tax-exempt. Earnings before income taxes consisted of the following: Years ended December 31, (Millions of dollars) 2015 2014 2013 United States $ $ $ Foreign Total earnings excluding noncontrolling interests Less: net income attributable to noncontrolling interests Total earnings before income taxes $ $ $ The components of total income taxes were as follows: Years ended December 31, (Millions of dollars) 2015 2014 2013 Current: Federal $ $ $ Foreign State and local Deferred: Federal Foreign State and local Income tax expense Unrealized changes in other comprehensive income — Total income taxes $ $ $ As of December 31, 2015 and 2014 , Seaboard had income taxes receivable of $33 million and $49 million, respectively, primarily related to domestic tax jurisdictions, and had income taxes payable of $4 million and $5 million, respectively, primarily related to foreign tax jurisdictions. Components of the net deferred income tax liability at the end of each year were as follows: December 31, (Millions of dollars) 2015 2014 Deferred income tax liabilities: Depreciation $ $ Domestic partnerships LIFO Cash basis farming adjustment Other $ $ Deferred income tax assets: Reserves/accruals $ $ Deferred earnings of foreign subsidiaries Net operating and capital loss carry-forwards Tax credit carry-forwards Other Valuation allowance Net deferred income tax liability $ $ Seaboard recognizes interest accrued related to unrecognized tax benefits and penalties in income tax expense. For the years ended December 31, 2015, 2014 and 2013 , such interest and penalties were not material. The Company had approximately $4 million and $3 million accrued for the payment of interest and penalties on uncertain tax positions at December 31, 2015 and 2014 , respectively. As of December 31, 2015 and 2014 , Seaboard had $7 million and $7 million, respectively, in total unrecognized tax benefits all of which, if recognized, would affect the effective tax rate. Seaboard does not have any material uncertain tax positions in which it is reasonably possible that the total amounts of the unrecognized tax benefits will significantly increase or decrease within 12 months of the reporting date. The following table is a reconciliation of the beginning and ending amount of unrecognized tax benefits: (Millions of dollars) 2015 2014 Beginning balance at January 1 $ $ Additions for uncertain tax positions of prior years — Decreases for uncertain tax positions of prior years — Additions for uncertain tax positions of current year — Ending balance at December 31 $ $ 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. The jurisdictions that most significantly impact Seaboard’s effective tax rate are the U.S., Dominican Republic and Argentina. As of December 31, 2015 , Seaboard had not provided for U.S. Federal i ncome and foreign withholding taxes on $977 million of undistributed earnings from foreign operations, as Seaboard intends to reinvest such earnings indefinitely outside of the U.S . Determination of the tax that might be paid on these undistributed earnings if eventually remitted is not practical. If Seaboard decided at a later date to repatriate these earnings to the U.S., Seaboard would be required to provide for the net tax effects on these amounts. Management believes Seaboard’s future taxable income will be sufficient for full realization of the net deferred tax assets. The valuation allowance relates to the tax benefits from foreign net operating losses. Management does not believe these benefits are more likely than not to be realized due to limitations imposed on the deduction of these losses. At December 31, 2015 , Seaboard had foreign net operating loss carry-forwards of approximately $22 million, a portion of which expire in varying amounts between 2016 and 2035 , while others have indefinite expiration periods. At December 31, 2015 , Seaboard had state tax credit carry-forwards of approximately $21 million, net of valuation allowance, all of which carry-forward indefinitely. Seaboard has certain investments in various limited partnerships as a limited partner that are expected to enable Seaboard to obtain certain low income housing tax credits over a period of approximately ten years. Seaboard uses the proportional amortization method of accounting for all of its qualified affordable housing project investments by amortizing the initial cost of the investment in proportion to the income tax credits received and recognizing the net investment performance in the Consolidated Statements of Comprehensive Income as a co mponent of income tax expense. The amounts of affordable housing tax credits and other tax benefits and related amortization expense recognized as components of income tax expense were not material for the years ended December 31, 2015, 2014 and 2013 . The balance of these investments recognized on the Consolidated Balance Sheets as of December 31, 2015 and 2014 was $10 million and $12 million, respectively. In February 2015, Seaboard committed to invest in a limited liability company that will operate a refined coal processing plant in Oklahoma. Production of refined coal generates federal income tax credits. Seaboard contributed $9 million during 2015. Seaboard’s funding commitment for this company can vary depending on production and, based on current production estimates, is anticipated to be between $4 million and $9 million per year until 2021, for a total estimate of approximately $53 million. On December 18, 2015, the Protecting Americans from Tax Hikes Act of 2015 (the “2015 Tax Act”) was signed into law. The 2015 Tax Act reinstated and made permanent certain expired corporate income tax provisions that impact current and deferred taxes for financial reporting purposes. The annual effects of the provisions in the new law on current and deferred tax assets and liabilities for Seaboard were recorded in the fourth quarter of 2015. The impact was a tax benefit of $13 million, or $10.92 per common share, primarily related to certain income tax credits. In addition to this amount was a credit of $17 million, or $14.88 per common share, for the 2015 Federal blender’s credits (extended by the 2015 Tax Act through December 31, 2016) that was recognized as revenues in the fourth quarter of 2015. There was no tax expense on these transactions. See Note 12 for further discussion of this Federal blender’s credit. On December 19, 2014, the Tax Increase Prevention Act of 2014 (the “ 2014 Tax Act ” ) was signed into law. The 2014 Tax Act extended many expired corporate income tax provisions through December 31, 2014, which impacted current and deferred income taxes for financial reporting purposes. The total annual effects of the provisions in the new law on current and deferred taxes assets and liabilities for Seaboard were recorded in the fourth quarter of 2014. The impact was a tax benefit of $11 million, or $9.68 per common share, recorded primarily related to certain income tax credits. In addition to this amount was a credit of $15 million f or the Federal blender’s credits for 2014 that was recognized as revenues in the fourth quarter of 2014. See Note 1 2 for further discussion of this Federal blender’s credit. Since the 2014 Tax Act only extended these tax provisions, including the Federal blender’s credits, through December 31, 2014 , future legislation would be required to extend these expired tax provisions. On January 2, 2013, the American Taxpayer Relief Act of 2012 (the “ Tax Act ” ) was signed into law. The Tax Act extended many expired corporate income tax provisions that impact current and deferred taxes for financial reporting purposes. In accordance with GAAP, the determination of current and deferred taxes is based on the provisions of the enacted law as of the balance sheet date; the effects of future changes in tax law are not anticipated. The effects of changes in tax laws, including retroactive changes, are recognized in the financial statements in the period that the changes are enacted. Accordingly, as the Tax Act was signed into law in 2013, the effects of the retroactive provisions in the new law on current and deferre d tax assets and liabilities for Seaboard were recorded in the first quarter of 2013. The total impact was a one-time tax benefit of $8 million r ecorded in the first quarter of 2013 related to certain 2012 income tax credits. In ad dition to this amount was a credit of approximately $11 million f or the 2012 Federal blender’s credits that was recognized as revenues in the first quarter of 2013 . See Note 1 2 for further discussion of this Federal blender’s credit.

Notes Payable and Long-Term Deb

Notes Payable and Long-Term Debt	12 Months Ended
	Dec. 31, 2015
Notes Payable and Long-Term Debt
Notes Payable and Long-Term Debt	Note 7 Notes Payable and Long-Term Debt Notes payable of $141 million and $76 million a t December 31, 2015 and 2014 , respectively, consisted of obligations due to banks on demand or based on Seaboard’s ability and intent to repay within one year. All of the notes payable outstanding at December 31, 2015 related to foreign subsidiaries, with $61 million denominated in South African rand and $33 million denominated in Argentine pesos. The weighted average interest rate for outstanding notes payable was 11.74% and 14.34% at December 31, 2015 and 2014 , respectively. As of December 31, 2015 , Seaboard had uncommitted bank lines totaling $298 million, o f which $248 million o f the uncommitted lines relate to foreign subsidiaries. Seaboard’s borrowing capacity was reduced by $141 million outstanding under the uncommitted lines and $3 million of le tters o f credit . The notes payable to banks under the credit lines ar e unsecured and do not require compensating balances. Facility fees on these agreements are not material. Seaboard has no committed lines of credit as of December 31, 2015. Seaboard cancelled its $200 million long-term committed credit facility effective October 28, 2015. Also, a $50 million committed line related to a foreign subsidiary for the Commodity Trading and Milling segment expired on October 23, 2015. The following table is a summary of long-term debt at the end of each year: December 31, (Millions of dollars) 2015 2014 Term Loan due 2022 $ $ — Foreign subsidiary obligations due 2020 through 2023 — Total long-term debt at face value — Current maturities of long-term debt and unamortized discount — Long-term debt, less current maturities and unamortized discount $ $ — Seaboard entered into a Term Loan Credit Agreement dated December 4, 2015 (“Credit Agreement”) with CoBank, ACB; Farm Credit Ser vices of America, PCA; and the lenders p arty thereto pursuant to which Seaboard Foods obtained a $500 million unsecured term loan ( “Term Loan”). Seaboard received proceeds of $499 million, net of a $1 million discount, which will be amortized to interest expense using the effective interest method. Seaboard has guaranteed all obligations of Seaboard Foods under the Term Loan. The Term Loan provides for quarterly payments of the principal balance pursuant to the amortization schedule included in the Credit Agreement , with the balance due on the maturity date, December 4, 2022. The Term Loan bears interest at fluctuating rates based on various margins over a Base Rate (defined as the highest of (a) the Prime Rate, (b) the Federal Funds Effective Rate plus 0.50% per annum, or (c) the Adjusted LIBOR Rate for an Interest Period of one month on such day plus 1.00% per annum) or LIBOR, at the option of Seaboard Foods . The interest rate was 1.90% at December 31, 2015. The Term Loan requires, among other terms, the maintenance of certain ratios involving a maximum debt to capitalization ratio, which shall not exceed 50% at the end of any fiscal quarter, and minimum tangible net wo rth, as defined, of not less $2 billion plus 25% of cumulative consolidated net income beginning with the quarter ended December 31, 2015. The Term Loan also includes restrictions of certain subsidiaries to grant liens on assets, incur indebtednes s over 15% of consolidated tangible net worth, make certain acquisitions, investments and asset dispositions in excess of specified amounts, and limits aggregate dividend payments to $25 million p er year under certain circumstances. Seaboard is in compliance with all restrictive debt covenants relating to these agreements as of December 31, 2015 . In 2015, Seaboard’ s Argentine subsidiary obtained long-term debt financing, comprised of five loans denominated in Argentine pesos. The maturities range from May 2020 to May 2023, with principal payments due at least quarterly. Interest, payable monthly, is fixed for the first twelve months at rates ranging from 15.00% to 32.00% , then thereafter determined by the average interest rate paid by retail banks on 30 -day fixed-deposits over $1 million. The weighte d average interest rate was 30.23% at December 31, 2015. All of the foreign subsidiary debt is guaranteed by Seaboard, except $3 million is secured by property, plant and equipment. The aggregate minimum principal payments required on long-term debt at December 31, 2015 are as follows: $4 million in 2016, $17 million in 2017, $21 million in 2018, $34 million in 2019, $43 million in 2020 and $404 million thereafter. In July 2014, Seaboard provided notice of optional prepayment to its lenders related to a credit agreement with an original maturity of 2021. The total principal payment of $86 million was made on August 29, 2014. In addition, Seaboard was required to pay an approximately $4 million fee for early payment of this long-term debt that was charged to interest expense in the third quarter of 2014. In November 2013, Seaboard provided notice of call for early redemption to holders of certain IDRBs effective December 20, 2013 and paid $18 million in the fourth quarter of 2013. In April 2013, Seaboard provided notice of call for early redemption to holders of certain IDRBs effective May 13, 2013 and paid $11 million in the second quarter of 2013. In December 2012, Seaboard provided notice of call for early redemption to holders of certain IDRBs effective January 14, 2013 and paid $13 million i n the first quarter of 2013.

Derivatives and Fair Value of F

Derivatives and Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2015
Derivatives and Fair Value of Financial Instruments
Derivatives and Fair Value of Financial Instruments	Note 8 Derivatives and Fair Value of Financial Instruments GAAP discusses several 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). The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fai r value into three broad levels, as described below : Level 1: Quoted Prices in Active Markets for Identical Assets - 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 : Significant Other Observable Inputs - 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: Significant Unobservable Inputs - Unobservable inputs that reflect the reporting entity’s own assumptions. The following tables show assets and liabilities measured at fair value (derivatives exclude margin accounts) on a recurring basis as of December 31, 2015 and 2014 , respectively, and also the level within the fair value hierarchy used to measure each category of assets. 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 2015 and 2014 . Balance December 31, (Millions 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 — — Domestic debt securities — — Foreign equity securities — — High yield debt securities — — Money market funds held in trading accounts — — 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 — — Total Liabilities $ $ $ $ — (1)     Seaboard’s commodity derivative assets and liabilities are presented in the Consolidated Balance Sheets on a net basis, including netting the derivatives with the related margin accounts. As of December 31, 2015 , the commodity derivatives had a margin account balance of $29 million resulting in a net other current asset on the Consolidated Balance Sheet of $15 million. Balance December 31, (Millions 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 securities — — Money market funds held in trading accounts — — Domestic debt securities — 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 — — Total Liabilities $ $ $ $ — (1)     Seaboard’s commodity derivative assets and liabilities are presented in the 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 million resulting in a net other current asset on the Consolidated Balance Sheet of $9 million and a net other current liability of $1 million. 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 fair value of long-term debt is estimated by comparing interest rates for debt with similar terms and maturities. If Seaboard’s debt was measured at fair value on its Consolidated Balance Sheets, it would have been classified as level 2 in the fair value hierarchy. As Seaboard’s debt was issued during the latter part of the year and is variable-rate, carrying amount approximates fair value. The amortized cost and estimated fair values of investments and long-term debt at December 31, 2015 and 2014 , are presented below: December 31, 2015 2014 (Millions of dollars) Amortized Cost Fair Value Amortized Cost Fair Value Short-term investments, available-for-sale $ $ $ $ Short-term investments, trading debt securities Long-term debt — — 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. 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. 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 derivatives are recorded at fair value, with any cha nges in fair value being marked-to- market as a component of cost of sales on the Consolidated Statements of Comprehensive Income. Since these derivatives are not accounted for as hedges, fluctuations in the related commodity prices could have a material impact on earnings in any given period. At December 31, 2015 , Seaboard had open net derivative contracts to purchase 25 million pounds of hogs, 22 million bushels of grain, 3 million pounds of sugar, and open net derivative contracts to sell 8 million pounds of soybean oil. At December 31, 2014 , Seaboard had open net derivative contracts to purchas e 20 million pounds of hogs , 20 million pounds of soybean oil , 16 million pounds of sugar, 11 million bushels of grain, and open net derivative contracts to sell 4 million gallons of heating oil. For the years ended December 31, 2015, 2014 and 2013 , Seaboard recognized net realized and unrealized gains (losses) of $(45) million, $18 million and $(17) million, respectively, related to commodity contracts, primarily included in cost of sales on the 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 primarily relate to an un derlying commodity transaction are recorded at fair value with changes in value marked-to- market as a compone nt of cost of sales on the Consolidated Statements of Comprehensive Income. For eign currency exchange agreements that a re not related to an underlying commodity transaction are recorded at fair value with changes in value marked-to- market as a com ponent of foreign currency gains (losses), net on the Consolidated Statements of Comprehensive Income. Since these agreements are not accounted for as hedges, fluctuations in the related foreign currency exchange rates could have a material impact on earnings in any given year. At December 31, 2015 and 2014 , Seaboard had foreign currency exchange agreement s to cover its firm sales and purchase commitments and related trade receivables and payables, with notional amounts of $94 million and $144 million, r espectively, 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 terminatio n dates in the second half of 2014 and early 2015 for one of the agreements. During 2014 and 2015 these agreements were terminated and replaced, each with a mandatory early termination date, which coincided 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 . The interest rate 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 dry bulk vessel leases. Seaboard pays a fixed rate and receives a variable rate of interest on the notional amounts of $22 million e ach. In 2015, two agreements were terminated and not renewed with the delivery of two bulk vessels. Payments made by Seaboard to unwind these agreements were not material. During 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 fluctuation s in interest rates on variable- rate debt. Seaboard pays a fixed rate and receives a variable rate of interest on the notional amounts of $25 million e ach. These interest rate exchange agreements do not qualify as hedges for accounting purposes. Accordingly, the changes in fair value of these agreements are recorded in m iscellaneous, net in the Consolidated Statements of Comprehensive Income. At December 31, 2015 and 2014 , Seaboard had five and seven agreements outstanding, respectively, with a total notional value of $119 million and $163 million, r espectively. The following tabl e provides the amount of gain (loss) recognized for each type of derivative and where it was recognized in the Consolidated Statements of Comprehensive Income for the year ended December 31, 2015 and 2014 : (Millions of dollars) 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 December 31, 2015 and 2014 and where each derivative is included on the Consolidated Balance Sheets: Asset Derivatives Liability Derivatives December 31, December 31, December 31, December 31, (Millions 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 Consolidated Balance Sheets on a net basis, including netting the derivatives wit h the related margin accounts. As of December 31, 2015 and 2014 , the commodity derivatives had a margin account balance of $29 million and $4 million, respectively, resulting in a net other current asset on the Consolidated Balance Sheets of $15 million and $9 million, respectively, and a net other current liability of $0 million and $1 million as of December 31, 2015 and 2014 . Counterparty Credit Risk From time to time Seaboard is subject to counterparty credit risk related to its foreign currency exchange agreements and interest rate swa ps should the counterparties fail to perform according to the terms of the contracts. As of December 31, 2015 , Seaboard had $8 million of credit risk to seven co unterparties related to its foreign currency exchange agreements and no credit risk related to its interest rate swaps. Seaboard does not hold any collateral related to these agreements.

Employee Benefits

Employee Benefits	12 Months Ended
	Dec. 31, 2015
Employee Benefits
Employee Benefits	Note 9 Employee Benefits Seaboard maintains two defined benefit pension plans ( the “ Plans”) for its domestic salaried and clerical employees. The Plans generally provide eligibility for participation after one year of service upon attaining the age of 21 . Effective January 1, 2014, newly hired employees do not qualify for participation. Benefits are generally based upon the number of years of service and a percentage of final average pay. Seaboard has historically based pension contributions on minimum funding standards to avoid the Pension Benefit Guaranty Corporation ( “ PBGC ” ) variable rate premiums established by the Employee Retirement Income Security Act (“ERISA”) of 1974. During the third quarter of 2013, Seaboard completed future funding analyses for these plans and in September 2013 made a deductible contribution of $10 million f or the 2012 plan year, principally to avoid future PBGC variable rate premiums established pursuant to the ERISA. Management did not make any contributions in 201 5 and 201 4 and currently does not plan on making any contributions to the Plans in 201 6 . Seaboard has separat e investment policies for each p lan. The difference in target allocation percentages are based on one plan having more current retirees and thus a more conservative portfolio versus the other plan, which can assume greater risk as it will have a longer investment time horizon. In July 2013, Seaboard modified its investment policy for each plan by decreasing the percentage of fixed income investments of the total for its allocation targets and actual investment composition within each plan. Assets are invested in the Plans to achieve a diversified target allocation of approximately 40% - 50% in domestic equities, 20% - 25% in international equities, 10% - 25% in fixed income securities and 10% - 15% in alternative investments. The investment strategy provides investment managers’ discretion, and is periodically reviewed by management for adherence to policy and performance against benchmarks. As described in Note 8 to the Consolidated Financial Statements, GAAP utilizes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad le vels. The following tables show the Plans’ assets measured at estimated fair value as of December 31, 2015 and 2014 , respectively, and also the level within the fair value hierarchy used to measure each category of assets: Balance December 31, (Millions of dollars) 2015 Level 1 Level 2 Level 3 Assets: Domestic equity securities $ $ $ — $ — Foreign equity securities — — Real estate mutual fund — — Fixed income mutual funds — — Commodity mutual funds — — Money market funds — — International fixed income mutual funds — — Other — — Total Assets $ $ $ $ — Balance December 31, (Millions of dollars) 2014 Level 1 Level 2 Level 3 Assets: Domestic equity securities $ $ $ — $ — Foreign equity securities — — Real estate mutual fund — — Fixed income mutual funds — — Commodity mutual funds — — International fixed income mutual funds — — Money market funds — — Other — — Total Assets $ $ $ $ — Seaboard also sponsors non-qualified, unfunded supplemental executive plans, and has certain individual, non-qualified, unfunded supplemental retirement agreements for certain retired employees. The unamortized prior service cost is being amortized over the average remaining working lifetime of the active participants for these plans. Management has no plans to provide funding for these supplemental executive plans in advance of when the benefits are paid. Assumptions used in determining pension information for all of the above plans were: Years ended December 31, 2015 2014 2013 Weighted-average assumptions Discount rate used to determine obligations 3.20 - 4.80 % 3.15 - 4.40 % 3.55 - 5.20 % Discount rate used to determine net periodic benefit cost 2.70 - 4.40 % 3.55 - 5.20 % 2.50 - 4.15 % Expected return on plan assets 6.75 - 7.50 % 7.00 - 8.00 % 6.50 - 7.25 % Long-term rate of increase in compensation levels 4.00 % 4.00 % 4.00 % Management selected the discount rate based on a model-based result where the timing and amount of cash flows approximates the estimated payouts. The expected returns on the Plans’ assets assumption are based on the weighted average of asset class expected returns that are consistent with historical returns. The assumed rate selected was based on model-based results that reflect the Plans’ asset allocation and related long-term projected returns. The measurement date for all plans is December 31. The unrecognized net actuarial losses are generally amortized over the average remaining working lifetime of the active participants for all of these plans. The changes in the plans’ benefit obligations and fair value of assets for the Plans, supplemental executive plans and retirement agreements and the funded status were as follows: December 31, (Millions of dollars) 2015 2014 Reconciliation of benefit obligation: Benefit obligation at beginning of year $ $ Service cost Interest cost Actuarial losses (gains) Benefits paid Other Benefit obligation at end of year $ $ Reconciliation of fair value of plan assets: Fair value of plan assets at beginning of year $ $ Actual return on plan assets Employer contributions Benefits paid Other — Fair value of plan assets at end of year $ $ Funded status $ $ The net funded status of the Plans wa s $(50) million an d $(48) million at December 31, 2015 and 2014 , respectively. The benefit obligation decreased primarily due to a n increase in discount rates for all plans. The accumulated benefit obligation for the Plans was $143 million and $144 million a nd for all the other plans was $73 million and $7 3 million a t December 31, 2015 and 2014 , respectively. Expected future net benefit payments for all plans during each of the next five years and in aggregate for the five year period beginning with the sixth year are as follows: $1 2 million, $12 million, $1 4 million, $1 3 million, $1 5 million a nd $ 8 5 million, r espectively. In late April 2013, Mr. Joseph E. Rodrigues, Seaboard’s board member and retired former Executive Vice President and Treasurer of Seaboard Corporation, passed away. During retirement, Mr. Rodrigues received retirement payments under an individual, non-qualified, unfunded supplemental retirement agreement. Upon his death, this agreement terminated which eliminated the remaining accrued pension liability. This resulted in a one-time agreement termination gain of $3 million , or $2 million net of tax, which was recognized in net earnings in addition to a gain of $2 million, or $1 million ne t of tax, from the elimination of unrecognized pension cost in other comprehensive income in 2013. The net periodic cost of benefits of these plans was as follows: Years ended December 31, (Millions of dollars) 2015 2014 2013 Components of net periodic benefit cost: Service cost $ $ $ Interest cost Expected return on plan assets Amortization and other Agreement termination gain — Net periodic benefit cost $ $ $ The amounts not reflected in net periodic benefit cost and included in accumulated other comprehensive loss ( “ AOCL ” ) before taxes at December 31, 2015 and 2014 are $72 million and $86 million, r espectively. Such amounts primarily represent accumulated losses, net of gain. The amounts in AOCL expected to be recognized as components of net periodic benefit cost in 2016 are $4 million. S eaboard participates in a multi- employer pension fund, th e United Food and Commercial Workers International Union-Industry Pension Fund, which covers certain union employees under a collective bargaining agreement. This fund’s employer identification number is 51-6055922 , and this plan’s number is 001. For the plan year beginning July 1, 201 5 , this plan’s “zone status” is green and is not subject to a funding improvement plan. Seaboard is required to make contributions to this plan in amounts established under the collective bargaining agreement that expires in July 201 9 . Contribution expense for this plan was $1 million, $1 million and $1 million for the years ended December 31, 2015, 2014 and 2013 , respectively, which represents less than five percent of total contributions to this plan. The applicable portion of the total plan benefits and net assets of this plan is not separately identifiable, although Seaboard has received notice that, under certain circumstances, it could be liable for unfunded vested benefits or other expenses of this jointly administered union plan. Seaboard has not established any liabilities for potential future withdrawal, as such withdrawal from this plan is not probable. Seaboard maintains a defined contribution plan covering most of its domestic salaried and clerical employees. In 2015 , 2014 and 2013 , Seaboard contributed to this plan an amou nt equal to 50% of the first 6% of each e mployee’s contributions to the plan. Employee vesting is based upon years of service, with 20% vested after one year of service and an additional 20% vesting with each additional complete year of service. Contribution expense for this plan was $2 million, $2 million and $2 million for the years ended December 31, 2015, 2014 and 2013 , respectively. Seaboard has a deferred compensation plan which allows certain employees to reduce their compensation in exchange for values in various investments. Seaboard also has an Investment Option Plan which allowed certain employees to reduce their compensation in exchange for an option to acquire interests measured by reference to three investments. However, as a result of U.S. tax legislation passed in 2004, reductions to compensation earned after 2004 are no longer allowed under the Investment Option Plan. The exercise price for each investment option was established based upon the fair market value of the underlying investment on the date of grant. Under both plans, Seaboard contributes 3% of the employees’ reduced compensat ion. Seaboard’s expense for these two deferred compensation plans, which primarily includes amounts r elated to the change in fair value of the underlying investment accounts, was $3 million and $6 million for the years ended December 31, 2014 and 2013 , respectively. The change in fair value of these investment accounts was not material for 2015. Included in other liabilities at December 31, 2015 and 2014 are $38 million and $43 million, r espectively, representing the market value of the payable to the employees upon distribution or exerci se for each plan. In conjunction with these plans, Seaboard purchased the specified number of units of the employee-designated investment, plus the applicable option price for the Investment Option Plan. These investments are treated as trading securities and are stated at their fair market values. Accordingly, as of December 31, 2015 and 2014 , $43 million and $48 million, r espectively, were included in other current assets on the Consolidated Balance Sheets. Investment income related to the mark-to-market of these investments for 2014 and 2013 totale d $3 million and $6 million, r espectively. The change in fair value of these investment accounts was not material for 2015.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies
Commitments and Contingencies	Note 1 0 Commitments and 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 U.S. 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 U.S. 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 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 U.S. Attorney’s Office for the Western District of Oklahoma (“USAO”), which has been leading the investigation, previously advised Seaboard it intended to close its investigation and that no charges would be brought against Sea board. 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 this time. 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. On February 16 , 2016, Seaboard’s subsidiar y, Seaboard Foods, received an information r equest (“Request”) from the U.S. Environmental Protection Agency (“EPA”) seeking information under the Clean Air Act with regard to various ammonia releases at Seaboard Foods’ pork processing plant in Guymon, Oklahoma. Seaboard has been cooperating with the EPA with regard to the investigation and is in the p rocess of responding to the Request. It is not possible at this time to determine whether Seaboard will incur any material fines, penalties or liabilities in connection with this matter. 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 resolutions of these items are not expected to have a material adverse effect on the 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 business objectives. Seaboard does not issue guarantees of third parties for compensation. As of December 31, 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. See Note 7 for discussion of letters of credit. Commitments As of December 31, 2015 Seaboard had various firm non-cancelable purchase commitments and commitments under other agreements, arrangements and operating leases, as described in the table below: Years ended December 31, (Millions of dollars) 2016 2017 2018 2019 2020 Thereafter Hog procurement contracts $ $ $ $ $ — $ — Grain and feed ingredients — — — — — Grain purchase contracts for resale — — — — — Fuel supply contract — — — — — Equipment purchases and facility improvements — — — — — Construction of new dry bulk vessels — — — — — Other purchase commitments — Total firm purchase commitments — Vessel, time and voyage-charters Contract grower finishing agreements — — Other operating lease payments Investment in pork processing facility joint venture — — Total unrecognized firm commitments $ $ $ $ $ $ Seaboard has contracted with third parties for the purchase of live hogs to process at its pork processing plant, and has entered into grain and feed ingredient purchase contracts to support its live hog operations. The commitment amounts included in the table are based on projected market prices as of December 31, 2015 . During 2015 , 2014 and 2013 , this segment paid $171 million, $227 million and $191 million, respectively, for live hogs purchased under committed contracts. The Commodity Trading and Milling segment enters into grain purchase contracts, primarily to support firm sales commitments. These contracts are valued based on projected commodity prices as of December 31, 2015 . The Power segment has a natural gas supply contract for 2016 for a portion of the fuel required for the operation of the dual fuel power generating facility. The commitment has both fixed and variable price components and thus the amount included in the table above is partially based on market prices as of December 31, 2015 . In June 2012, Seaboard entered into an agreement to build four dry bulk vessels to be used by the Commodity Trading and Milling segment at an estimated total cost of $90 million. During 2015, the Commodity Trading and Milling Division took delivery of two dry bulk vessels. As of December 31, 2015, two dry bulk vessels had not been delivered. Seaboard took delivery of one vessel in January 2016 and the final vessel is expected to be delivere d during the first half of 2016 . Seaboard entered into sales-leaseback transactions for the completed vessels, which results in Seaboard receiving back the amounts spent to build at each individual lease inception. The Marine and Commodity Trading and Milling segment s enter into contracts to time-charter vessels for use in their operations , which include short-term time charters for a few months and long-term commitments ranging from one to eleven years. The s e segment s ’ charter hire expenses during 2015, 2014 and 2013 totaled $99 million, $87 million and $91 million, r espectively. To support the operations of the Pork segment, Seaboard has contract grower finishing agreements in place with farmers to raise a portion of Seaboard’s hogs according to Seaboard’s specifications under long-term service agreements. Under the terms of the agreements, additional payments would be required if the grower achieves certain performance standards. The contract grower finishing obligations shown above do not reflect these incentive payments which, given current operating performance, total approximately $1 million p er year. In the event the farmer is unable to perform at an acceptable level, Seaboard has the right to terminate the contract. During the years ended 2015 , 2014 and 2013 , Seaboard paid $12 million, $13 million and $13 million, r espectively, under contract grower finishing agreements. Seaboard also leases various fac ilities and equipment under non- cancelable operating lease agreements including a termin al operations agreement at PortMiami which runs through 2028. Rental expense for operating leases for all segments amounted to $42 million, $35 million and $34 million in 2015 , 2014 and 2013 , respectively. As discussed in Note 4, on May 13, 2015, Seaboard, through a wholly-owned subsidiary, agreed to contribute up to $207 million to jointly develop and operate a pork processing facility in Sioux City, Iowa. As of December 31, 2015 , $26 million had been contributed with the remaining amounts due through 2019. As part of the operations, Seaboard agreed to provide a portion of the hogs to be processed at the facility. In February 2016, the Pork Segment, in co mbination with a newly formed limited liability partnership that will be consolidated with Seaboard, acquired hog inventory and related assets in the Central U.S. for a cash purchase price of $148 million that are expected to increase Seaboard’s hog production capacity to meet the majority of such hog supply commitment for single shift processing at the new plant. Due to the timing of the purchase, the initial accounting is not complete. Seaboard is currently in the process of obtaining an initial valuation related to the acquired assets and liabilities. Seaboard anticipates buying additional hog inventory and related assets during 2016 to fulfill the remaining amount of such hog supply commitment.

Stockholders' Equity and Accumu

Stockholders' Equity and Accumulated Other Comprehensive Loss	12 Months Ended
	Dec. 31, 2015
Stockholders' Equity and Accumulated Other Comprehensive Loss
Stockholders' Equity and Accumulated Other Comprehensive Loss	Note 1 1 Stockholders’ Equity and Accumulated Other Comprehensive Loss In October 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 $51 million t hat remained available to $100 million. As of December 31, 2015 , $100 million remained available for repurchases under this program. Seaboard did not repurchase any shares of common stock during 2015 . In May 2014, the Board of Directors increased the dollar amount of Seaboard common stock authorized to be repurchased under the share repurchase program by $20 million, a nd 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 million. Seaboard used cash to repurchase 18,405 and 8,705 shares of common stock at a total price of $53 million and $24 million in 2014 and 2013 , respectively. Under this share repurchase program, Seaboard is authorized to repurchase its c ommon s tock 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 pu rchases on behalf of Seaboard. All stock repurchased will be mad e in compliance with applicable legal requirements and funded by cash on hand. The timing of the repurchases and the number of shares repurchased at any given time will depend upon market conditions, compliance with Securities and Exchange Commission regulations, and other factors. The Board of Director 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. Shares repurchased will be retired and resume the status of a uthorized and unissued shares. 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 dividend s ($3.00 per share per year). Seaboard did not declare or pay a dividend in 2015, 201 4 and 201 3, and does not currently intend to declare any further dividends for 2016. The components of accumulated other comprehensive loss, net of related taxes, for 2013 , 2014 and 2015 are as follows: Cumulative Foreign Unrealized Currency Gain (Loss) Unrecognized Translation on Pension (Millions of dollars) Adjustment Investments Cost Total Balance December 31, 2013 $ $ — $ $ Other comprehensive income (loss) before reclassifications Amounts reclassified from accumulated other comprehensive loss to net earnings — — (1) Other comprehensive income (loss), net of tax Balance December 31, 2014 $ $ $ $ Other comprehensive income (loss) before reclassifications — Amounts reclassified from accumulated other comprehensive income loss to net earnings — — (1) Other comprehensive income (loss), net of tax — Balance December 31, 2015 $ $ $ $ (1)     This primarily represents the amortization of actuarial losses that were included in net periodic pension cost and was recorded in operating income. See Note 9 for further discussion. In 2013, Seaboard recognized a one-time retirement agreement termination gain of $1 million, net of tax, in unrecognized pension cost in other comprehensive income. See Note 9 for further discussion. 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 December 31, 2015 , the Sugar segment had $9 6 million in net assets denominated in Argentine pesos and $1 million in net assets denominated in U.S. dollars in Argentina. At December 31, 2014 , the Sugar segment had $12 2 million in net assets denominated in Argentine pesos and $1 million in net assets denominated in U.S. dollars in Argent ina. Seaboard accounts for its S ugar segment on a one month lag basis. Based on the devaluation of the Argentine peso in December 2015, management anticipates that the Argentine peso will continue to weaken against the U.S. dollar , and thus it is anticipated that Seaboard will incur additional foreign currency translation adjustment losses in other comprehensive loss in 2016 . Using the prevailing official exchange rate compared to the net assets denominated in Argentine pesos at January 31, 2016, Seaboard would recognize an additional $16 million of other comprehensive loss, net of related taxes, during the first quarter of 2016. Impacts of further fluctuations in the currency exchange rate will be recorded in future periods. Income taxes for cumulative foreign currency translation adjustments were recorded using a 35% effective tax rate except for $82 million and $5 6 million in 2015 and 2014 , respectively, related to certain subsidiaries for which no tax benefit was recorded. Income taxes for all other components of accumulated other comprehensive loss were recorded using a 39% effective rate except for unrecognized pension cost of $18 million and $20 million in 2015 and 2014 , respectively, related to employees at certain subsidiaries for which no tax benefit was recorded.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2015
Segment Information
Segment Information	Note 1 2 Segment Information Seaboard had six reportable segments through December 31, 2015 : Pork, Commodity Trad ing and Milling (“CT&M”), Marine, Sugar, Power and Turkey, each offering a specific product or service. Seaboard’s reporting segments are based on information used by Seaboard’s Chief Executive Officer in his capacity as chief operating decision maker to determine allocation of resources and assess performance. Each of the six main segments is separately managed, and each was started or acquired independent of the other segments. The Pork segment produces and sells fresh and frozen pork products to further processors, foodservice operators, grocery stores, distributors and retail outlets throughout the U.S. , and to Japan, Mexico and numerous other foreign markets. This segment also produces biodiesel primarily from pork fat for sale to third parties. The CT&M segment is an integrated agricultural commodity trading and processing and logistics operation that internationally markets wheat, corn, soybean meal and other agricultur al commodities in bulk to third- party customers and to non-consolidated affiliates. This segment also operates flour, maize and feed mills, baking operations, and poultry production and processing in numerous foreign countries. The Marine segment, based in Miami, Florida, provides cargo shipping services between the U.S. , the Caribbean Basin and Central and South America. The Sugar segment produces and processes sugar and alcohol in Argentina, primarily to be marketed locally. The Power segment is an unregulated independent power producer in the Dominican Republic operating a floating power generating facilit y . The Turkey segment, accounted for using the equity method, produces and sells branded and non-branded turkeys and other products. Total assets for the Turkey segment represents Seaboard’s investment in and notes receivable from this affiliate. Revenues for the All Other segment are primarily derived from a jalapeño pepper processing operation. The 2015 Tax Act signed into law in December 2015, as discussed in Note 6, renewed the Federal blender’s credit that Seaboard is entitled to receive for biodiesel it blends, which had previously expired on December 31, 2014, retroactively to January 1, 2015 with an expiration of December 31, 2016. As a result, in the fourth quarter of 2015 the Pork segment recognized as revenue the 2015 Federal blender’s credits of $17 million. The 2014 Tax Act signed into law in December 2014 as discussed in Note 6, renewed the Federal blender’s credit that Seaboard is entitled to receive for biodiesel it blends which had previously expired on December 31, 2013 retroactively to January 1, 2014 with an expiration date of December 31, 2014 . As a result, in the fourth quarter of 2014 the Pork segment recognized as revenues the 2014 Federal blender’s credits of $1 5 million. Also, the Tax Act signed into law in January 2013 as discussed in Note 6 , renew ed and extend ed the Federal blender’s credits which had previously expired on December 31, 2011 and renewed retroactively to January 1, 2012 with an expiration of December 31, 2013. As a result, in the first quarter of 2013 the Pork segment recognized approximately $11 million as revenues related to this Federal blender’s tax incentive for gallons produced and sold in fiscal 2012. Substantially all of Seaboard’s Pork segment’s hourly employees at its Guymon , Oklahoma, processing plant are covered by a collective bargaining agreement. As more fully described in Note 4, as of September 27, 2014 Seaboard’s Pork segment sold to Triumph a 50% interest in its proc essed meats division, Daily’s. As a result, Seaboard deconsolidated Daily’s from its Consolidated Balance Sheet as of September 27, 2014. Seaboard’s remaining 50% investment in Daily’s is accounted for using the equity method of accounting. In the fourth quarter of 2014, the CT&M segment recorded a n $11 millio n write-down in loss from affiliate from a decline in value considered other than temporary for its investment in a bakery located in the DRC . The CT&M segment historically derived a significant portion of its operating income from wheat sales to another non-consolidated affiliate in the DRC. Also, Seaboard historically had derived a significant portion of its income from affiliates from this same affiliate , but in 2014 and 2013 Seaboard incurred significant losses from this affiliate for its proportionate share. See Note 4 for further discussion of the write-down and investments in affiliates in the DRC. In the fourth quarter of 2015, the Power segment recorded a receivable and interest income of $31 million for interest recognized on certain outstanding customer receivable balances. This interest income related to amounts determined to be collectible as of December 31, 2015 , but previously had been considered uncollectable in prior years. This amount was fully collected by Seaboard in early January 2016. During the second quarter of 2015, Seaboard invested an additional $10 million 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 $6 million initial investment from Corporate to the Power segment along with $6 million 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, 2013. The Power segment had been operating a floating power generating facility ( 72 megawatts) in the Dominican Republic under a short-term lease agreement. 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 $5 million gain from sale of assets in operating income related to these items in the third qu arter of 2014. The Turkey segment accounted for using the equity method, had operating income in 2015 , 2014 and 2013 of $231 million, $141 million and $5 million, r espectively. In 2013, Butterball incurred charges for impairment of fixed assets related to the planned sale of its closed processing plant in Longmont, Colorado of which Seaboard’s proportionate share of these charges represented $( 4 ) million recognized in loss from affiliates. This plant was sold in May 2014 for the approximate remaining net book value. The following tables set forth specific financial information about each segment as reviewed by management, except for the Turkey segment information previously disclosed in Note 4 to the Consolidated Financial Statements. Operating income for segment reporting is prepared on the same basis as that used for consolidated operating income. Operating income, along with income (loss) from affiliates for the CT&M and Turkey segment, is used as the measure of evaluating segment performance because management does not consider interest and income tax expense on a segment basis. Sales to External Customers: Years ended December 31, (Millions of dollars) 2015 2014 2013 Pork $ $ $ Commodity Trading and Milling Marine Sugar Power All Other Segment/Consolidated Totals $ $ $ Operating Income (Loss): Years ended December 31, (Millions of dollars) 2015 2014 2013 Pork $ $ $ Commodity Trading and Milling Marine Sugar Power All Other — Segment Totals Corporate Consolidated Totals $ $ $ Income (Loss) from Affiliates: Years ended December 31, (Millions of dollars) 2015 2014 2013 Pork $ $ $ — Commodity Trading and Milling Marine — — Sugar Power Turkey Segment/Consolidated Totals $ $ $ Depreciation and Amortization: Years ended December 31, (Millions of dollars) 2015 2014 2013 Pork $ $ $ Commodity Trading and Milling Marine Sugar Power Segment Totals Corporate — — Consolidated Totals $ $ $ Total Assets: December 31, (Millions 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: December 31, (Millions of dollars) 2015 2014 Pork $ $ Commodity Trading and Milling Marine Sugar Power Turkey Segment/Consolidated Totals $ $ Capital Expenditures: Years ended December 31, (Millions of dollars) 2015 2014 2013 Pork $ $ $ Commodity Trading and Milling Marine Sugar Power Segment Totals Corporate — — Consolidated Totals $ $ $ Administrative services provided by the corporate office allocated to the individual segments represent corporate services rendered to and costs incurred for each specific segment, with no allocation to individual segments of 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 includes all costs related to Seaboard’s deferred compensation programs (which are offset by the effect of the mark-to-market investments recorded in other investment i ncome (loss) , n et). Geographic Information Seaboard had sales in South Africa totaling $646 million, $597 million and $561 million for the years ended December 31, 2015, 2014 and 2013, respectively, representing approximately 12% , 9% and 8% of total sales for each respective year. No other individual foreign country accounted for 10% or more of sales to external customers. The following table provides a geographic summary of net sales based on the location of product delivery: Years ended December 31, (Millions of dollars) 2015 2014 2013 Caribbean, Central and South America $ $ $ Africa United States Pacific Basin and Far East Canada/Mexico Eastern Mediterranean Europe Totals $ $ $ The following table provides a geogra phic summary of Seaboard’s long- lived assets according to their physical location and primary port for the vessels: December 31, (Millions of dollars) 2015 2014 United States $ $ Dominican Republic Argentina All other Totals $ $ Management believes its allowance for doubtful accounts is adequate and reduces receivables recorded to their expected net realizable value. At December 31, 2015 and 2014 , Seaboard had approximately $275 million and $26 7 million, r espectively, of foreign receivables, excluding receivables due from affiliates, which generally represent more of a collection risk than the domestic receivables, although as of December 31, 2015 no individual material amounts were deemed to have a heightened risk of collectability. See Note 4 for discussion of an allowance for doubtful accounts related to a receivable due from an affiliate in Brazil.

Schedule II Valuation and Quali

Schedule II Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2015
Schedule II Valuation and Qualifying Accounts
Schedule II Valuation and Qualifying Accounts	Schedule II SEABOARD CORPORATION AND SUBSIDIARIES Valuation and Qualifying Accounts (In Millions) Balance at Balance at beginning of year Provision (1) Net deductions (2) end of year Allowance for Doubtful Accounts: Year Ended December 31, 2015 $ $ Year Ended December 31, 2014 $ — $ Year Ended December 31, 2013 $ $ (1) The allowance for doubtful accounts provision is charged to selling, general and administrative expenses. (2) Includes write-offs net of recoveries and currency translation adjustments. Balance at Charged (credit) Balance at beginning of year to expense end of year Allowance for Deferred Tax Assets: Year Ended December 31, 2015 $ $ Year Ended December 31, 2014 $ $ Year Ended December 31, 2013 $ $ Balance at Credit Balance at beginning of year to expense end of year Reserve for LIFO Valuation: Year Ended December 31, 2015 $ $ Year Ended December 31, 2014 $ $ Year Ended December 31, 2013 $ $

Summary of Significant Accoun21

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Summary of Significant Accounting Policies
Principles of Consolidation and Investments in Affiliates	Principles of Consolidation and Investments in Affiliates The consolidated financial statements include the accounts of Seaboard Corporation and its domestic and foreign subsidiaries. All significant inter-company balances and transactions have been eliminated in consolidation. Investments in non-controlled affiliates are accounted for by the equity method. Financial information from certain foreign subsidiaries and affiliates is reported on a one - to three -month lag, depending on the specific entity.
Short-Term Investments	Short-Term Investments Short-term investments are retained for future use in the business. Investments held by Seaboard that are categorized as available-for-sale are reported at their estimated fair value with any related unrealized gains and losses reported net of tax, as a component of accumulated other comprehensive loss. Investments held by Seaboard that are categorized as trading securities are reported at their estimated fair value with any unrealized gains and losses included in other investment income (loss), net on the Consolidated Statements of Comprehensive Income. Gains and losses on sale of investments are generally based on the specific identification method.
Accounts Receivable	Accounts Receivable Accounts receivable are recorded at the invoiced amount and generally do not bear interest. The Power segment, however, collects interest on certain past due accounts, and the Commodity Trading and Milling segment provides extended payment terms for certain customers in certain countries due to local market conditions. The allowance for doubtful accounts is Seaboard’s best estimate of the amount of probable credit losses. For most operating segments, Seaboard uses a specific identification approach to determine, in management’s judgment, the collection value of certain past due accounts based on contractual terms. For the Marine segment, the allowance for doubtful accounts is based on an aging percentage methodology primarily based on historical write-off experience. Seaboard reviews its allowance for doubtful accounts monthly. Account balances are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote.
Inventories	Inventories Seaboard uses the lower of last-in, first-out (“LIFO”) cost or market for determining inventory cost of live hogs, fresh pork product and related materials. Grain, flour and feed inventories at foreign milling operations are valued at the lower of weighted average cost or market. All other inventories, including further processed pork products, are valued at the lower of first-in, first-out (“FIFO”) cost or market.
Property, Plant and Equipment	Property, Plant and Equipment Property, plant and equipment are carried at cost and are being depreciated on the straight-line method over useful lives, ranging from 3 to 30 years. Property, plant and equipment leases which are deemed to be installment purchase obligations have been capitalized and included in the property, plant and equipment accounts. Routine and planned major maintenance, repairs and minor renewals are expensed as incurred, while major renewals and improvements are capitalized.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets Long-lived assets, primarily property, plant and equipment, are reviewed for impairment when events or changes in circumstances indicate that the carrying amount may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the asset to future undiscounted net cash flows expected to be generated by the asset. If such assets are determined to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the estimated fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value less costs to sell.
Notes Receivable from Affiliates	Notes Receivable from Affiliates Seaboard monitors the credit quality of notes receivable from its affiliates by obtaining and reviewing financial information for these affiliates on a monthly basis and by having Seaboard representatives serve on the Board of Directors of these affiliates. If based on current information and events it is probable that Seaboard will be unable to collect all amounts due according to the contractual terms of the notes receivable from affiliates and an amount can be reasonably estimated, Seaboard will write- down the notes receivable to estimated realizable value.
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill is assessed annually for impairment by each reporting unit at the quarter end closest to the anniversary date of the acquisition, or more frequently if circumstances indicate that impairment is likely. Separable intangible assets with finite lives are amortized over their estimated useful lives. Any one event or a combination of events such as change in the business climate, a negative change in relationships with significant customers and changes to strategic decisions, including decisions to expand made in response to economic or competitive conditions could require an interim assessment prior to the next required annual assessment. Goodwill is related to the repurchase in 2007 of a noncontrolling interest of Seaboard Foods LLC (“Seaboard Foods”) in the Pork segment for a total of $12 million as of December 31, 2015 and 2014 . Based on the annual assessment conducted by this reporting unit during 2015 , there were no impairment charges recorded for the year ended December 31, 2015 .
Accrued Self-Insurance	Accrued Self-Insurance Seaboard is self-insured for certain levels of workers’ compensation, health care coverage, property damage and general, vehicle and product recall liability. The cost of these self-insurance programs is accrued based upon estimated settlements for known and anticipated claims. Changes in estimates to previously recorded reserves are reflected in current operating results.
Asset Retirement Obligation	Asset Retirement Obligation Seaboard has recorded long-lived assets and a related liability for the asset retirement obligation costs associated with the closure of the hog lagoons it is legally obligated to close in the future should Seaboard cease operations or plan to close such lagoons voluntarily in accordance with a changed operating plan. Based on detailed assessments and appraisals obtained to estimate the future asset retirement obligation costs, Seaboard recorded the present value of the projected costs in non-current other liabilities on the Consolidated Balance Sheets, with the retirement asset depreciated over the economic life of the related asset. The following table shows the changes in the asset retirement obligation during 2015 and 2014 : Years ended December 31, (Millions of dollars) 2015 2014 Beginning balance $ $ Accretion expense Ending balance $ $
Income Taxes	Income Taxes Deferred income taxes are recognized for the tax consequences of temporary differences by applying enacted statutory tax rates applicable to future years to differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities. However, in the future, as these timing differences reverse, a lower statutory tax rate may apply pursuant to the provisions for domestic manufacturers of the American Jobs Creation Act of 2004. In accordance with U.S. generally accepted accounting principles (“GAAP”) , Seaboard will recognize the benefit or cost of this change in the future.
Revenue Recognition	Revenue Recognition As a result of a marketing agreement with Triumph Foods, LLC (“Triumph”), Seaboard’s sales prices for its pork products included in product revenues are primarily based on a margin sharing arrangement that considers the average sales price and mix of products sold from both Seaboard’s and Triumph’s hog processing plants. Seaboard earns a fee for marketing the pork products of Triumph, and recognizes this fee as service revenue primarily based on the number of head processed by Triumph. Revenues for the Commodity Trading and Milling Segment are recognized when the commodity is delivered to the customer, collection is reasonably assured and the sales price is fixed or determinable. Revenues for cargo services are recognized ratably over the transit time for each voyage, with expenses associated with cargo services recognized as incurred. Revenues for all other commercial exchanges are recognized at the time products are shipped or delivered in accordance with shipping terms or services rendered, the customer takes ownership and assumes risk of loss, collection is reasonably assured and the sales price is fixed or determinable.
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements in conformity with 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 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.
Earnings Per Common Share	Earnings Per Common Share Earnings per common share are based upon the weighted average shares outstanding during the period. Basic and diluted earnings per share are the same for all periods presented.
Change in Accounting Method	Change in Accounting Method During the second quarter of 2015, Seaboard invested an additional $10 million 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 $6 million 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 required 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 $6 million adjustment to retained earnings and a corresponding increase to its investment as of January 1, 2013. There is no tax impact to Seaboard on these amounts. See Note 12 for more information.
Cash and Cash Equivalents	Cash and Cash Equivalents For purposes of the Consolidated Statements of Cash Flows, management considers all demand deposits and overnight investments as cash equivalents. The following table shows the amounts paid for interest and income taxes: Years ended December 31, (Millions of dollars) 2015 2014 2013 Interest $ $ $ Income taxes, net of refunds
Supplemental Non-Cash Transactions	Supplemental Non-Cash Transactions As more fully described in Note 4, as of September 27, 2014 Seaboard’s Pork segment sold to Triumph a 50% interest in its processed meats division, Daily’s Premium Meats (“Daily’s”). As a result, Seaboard deconsolidated Daily’s from its Consolidated Balance Sheet as of September 27, 2014. The following table summarizes the non-cash transactions resulting from this deconsolidation: (Millions of dollars) Decrease in net working capital $ Increase in investment in and advances to affiliates Decrease in property, plant and equipment Decrease in goodwill Decrease in other intangible assets, net (not subject to amortization) Gain on sale of controlling interest in subsidiary Net proceeds from sale of controlling interest in subsidiary $ As discussed in Note 4, as of December 31, 2015 and 2014 , Seaboard has notes receivable from affiliates which accrue pay-in-kind interest income. Non-cash, pay-in-kind interest income and accretion of discount recognized on these notes receivable for the years ended December 31, 2015, 2014 and 2013 was $17 million , $16 million and $14 million , respectively.
Foreign Currency Transactions and Translation	Foreign Currency Transactions and Translation Seaboard has operations in several foreign countries , and the currencies of the countries fluctuate in relation to the U.S. dollar. Certain of the major contracts and transactions, however, are denominated in U.S. dollars. In addition, the value of the U.S. dollar fluctuates in relation to the currencies of countries where certain of Seaboard’s foreign subsidiaries and affiliates primarily conduct business. These fluctuations result in exchange gains and losses. The activities of these foreign subsidiaries and affiliates are primarily conducted with U.S. subsidiaries or operate in hyper-inflationary environments. As a result, the financial statements of certain foreign subsidiaries and affiliates are re-measured using the U.S. dollar as the functional currency. Seaboard’s Sugar segment, three consolidated subsidiaries (Commodity Trading and Milling segment businesses in Canada, Guyana and Zambia) and nine non-controlled, non-consolidated affiliates (Marine segment business in Jamaica and Commodity Trading and Milling segment businesses in Australia, Brazil, Colombia, Kenya, Lesotho, South Africa and Zambia) use local currency as their functional currency. Assets and liabilities of these subsidiaries are translated to U.S. dollars at year-end exchange rates, and income and expenses are translated at average rates. Translation gains and losses are recorded as components of other comprehensive income (loss). For these entities, U.S. dollar denominated net asset or liability conversions to the local currency are recorded through income.
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities Seaboard recognizes all derivatives as either assets or liabilities at their fair values. Accounting for changes in the fair value of a derivative depends on its designation and effectiveness. Derivatives qualify for treatment as hedges for accounting purposes when there is a high correlation between the change in fair value of the instrument and the related change in value of the underlying commitment. Additionally, in order to designate a derivative financial instrument as a hedge for accounting purposes, extensive record keeping is required. For derivatives that qualify as hedges for accounting purposes, the change in fair value has no net impact on earnings, to the extent the derivative is considered effective, until the hedged transaction affects earnings. For derivatives that are not designated as hedging instruments for accounting purposes, or for the ineffective portion of a hedging instrument, the change in fair value affects current period net earnings. Seaboard uses various derivative instruments to manage various types of market risks from its day-to-day operations, primarily including commodity futures and option contracts, foreign currency exchange agreements and interest rate exchange agreements. While management believes each of these instruments primarily are entered into in order to effectively manage various market risks, as of December 31, 2015 , none of the derivatives were designated and accounted for as hedges, primarily as a result of the extensive record-keeping requirements. Seaboard also enters into speculative derivative transactions not directly related to its raw material requirements.
Recently Issued Accounting Standards	Recently Issued Accounting Standard Adopted In November 2015, the Financial Accounting Standards Board (“FASB”) issued simplification guidance that requires companies to classify all deferred tax assets and liabilities as non-current on the balance sheet instead of separating deferred taxes into current and non-current amounts. Since early adoption is permitted, Seaboard adopted this guidance as of December 31, 2015 using the prospective transition method. Seaboard reclassified its current deferred income tax assets to non-current deferred income tax liabilities as of December 31, 2015 on the Consolidated Balance Sheet. Prior periods were not retroactively adjusted. Recently Issued Accounting Standards Not Yet Adopted In May 2014, the 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 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 measured using last-in, first-out or the retail inventory method. Under the new standard, inventory should be recorded 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. In January 2016, the FASB issued guidance that requires entities to measure equity investments, other than those accounted for using the equity method of accounting, at fair value and recognize any changes in fair value in net income if a readily determinable fair value exists. For equity investments without readily determinable fair values, the cost method of accounting is also eliminated. An entity may elect to record these equity investments at cost, less impairment, and plus or minus subsequent adjustments for observable price changes. The new guidance is effective for interim and annual periods beginning after December 15, 2017. Seaboard is analyzing the impact of this new standard on certain of its equity investments and, at this time, cannot estimate the impact of adoption on net earnings .

Summary of Significant Accoun22

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2015
Summary of Significant Accounting Policies
Schedule of changes in the asset retirement obligation	Years ended December 31, (Millions of dollars) 2015 2014 Beginning balance $ $ Accretion expense Ending balance $ $
Schedule of amounts paid for interest and income taxes	Years ended December 31, (Millions of dollars) 2015 2014 2013 Interest $ $ $ Income taxes, net of refunds
Schedule of non-cash transactions resulting from the deconsolidation	(Millions of dollars) Decrease in net working capital $ Increase in investment in and advances to affiliates Decrease in property, plant and equipment Decrease in goodwill Decrease in other intangible assets, net (not subject to amortization) Gain on sale of controlling interest in subsidiary Net proceeds from sale of controlling interest in subsidiary $

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2015
Investments
Summary of the amortized cost and estimated fair value of short-term investments for both available-for-sale and trading securities	December 31, 2015 December 31, 2014 Amortized Fair Amortized Fair (Millions 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 Domestic debt securities Foreign equity securities — — High yield debt securities Money market funds held in trading accounts Collateralized loan obligation — — Other trading securities Total trading short-term investments Total short-term investments $ $ $ $

Inventories (Tables)

Inventories (Tables)	12 Months Ended
	Dec. 31, 2015
Inventories
Summary of inventories	December 31, (Millions 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 $ $

Investments in and Advances t25

Investments in and Advances to Affiliates and Notes Receivable from Affiliates (Tables)	12 Months Ended
	Dec. 31, 2015
Pork
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Schedule of combined condensed financial information of non-controlled, non-consolidated affiliates	Pork Segment December 31, (Millions of dollars) 2015 2014 2013 Net sales $ — Net income $ — Total assets $ — Total liabilities $ — Total equity $ —
Commodity Trading and Milling
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Schedule of combined condensed financial information of non-controlled, non-consolidated affiliates	Commodity Trading and Milling Segment December 31, (Millions of dollars) 2015 2014 2013 Net sales $ Net income (loss) $ Total assets $ Total liabilities $ Total equity $
Marine
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Schedule of combined condensed financial information of non-controlled, non-consolidated affiliates	Marine Segment December 31, (Millions of dollars) 2015 2014 2013 Net sales $ — — Net income $ — — Total assets $ — Total liabilities $ — Total equity $ —
Sugar
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Schedule of combined condensed financial information of non-controlled, non-consolidated affiliates	Sugar Segment December 31, (Millions of dollars) 2015 2014 2013 Net sales $ Net income $ Total assets $ Total liabilities $ Total equity $
Power
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Schedule of combined condensed financial information of non-controlled, non-consolidated affiliates	Power Segment December 31, (Millions of dollars) 2015 2014 2013 Net sales $ Net income $ Total assets $ Total liabilities $ Total equity $
Turkey
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Schedule of combined condensed financial information of non-controlled, non-consolidated affiliates	Turkey Segment December 31, (Millions of dollars) 2015 2014 2013 Net sales $ Net income (loss) $ Total assets $ Total liabilities $ Total equity $

Net Property, Plant and Equip26

Net Property, Plant and Equipment (Tables)	12 Months Ended
	Dec. 31, 2015
Net Property, Plant and Equipment
Summary of property, plant and equipment	Useful December 31, (Millions of dollars) Lives 2015 2014 Land and improvements - 15 years $ $ Buildings and improvements 30 years Machinery and equipment - 20 years Vessels and vehicles - 18 years Office furniture and fixtures 5 years Construction in progress Accumulated depreciation and amortization Net property, plant and equipment $ $

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2015
Income Taxes
Schedule of reconciliation of computed expected tax expense excluding non-controlling interest to income tax expense (benefit) attributable to continuing operations	Years ended December 31, (Millions of dollars) 2015 2014 2013 Computed “expected” tax expense excluding noncontrolling interests $ $ $ Adjustments to tax expense attributable to: Foreign tax differences Tax-exempt income State income taxes, net of federal benefit Federal tax credits Domestic manufacturing deduction Other — Total income tax expense $ $ $
Schedule of components of earnings before income taxes	Years ended December 31, (Millions of dollars) 2015 2014 2013 United States $ $ $ Foreign Total earnings excluding noncontrolling interests Less: net income attributable to noncontrolling interests Total earnings before income taxes $ $ $
Schedule of components of total income taxes	Years ended December 31, (Millions of dollars) 2015 2014 2013 Current: Federal $ $ $ Foreign State and local Deferred: Federal Foreign State and local Income tax expense Unrealized changes in other comprehensive income — Total income taxes $ $ $
Schedule of components of the net deferred income tax liability	December 31, (Millions of dollars) 2015 2014 Deferred income tax liabilities: Depreciation $ $ Domestic partnerships LIFO Cash basis farming adjustment Other $ $ Deferred income tax assets: Reserves/accruals $ $ Deferred earnings of foreign subsidiaries Net operating and capital loss carry-forwards Tax credit carry-forwards Other Valuation allowance Net deferred income tax liability $ $
Schedule of reconciliation of the beginning and ending amount of unrecognized tax benefits	(Millions of dollars) 2015 2014 Beginning balance at January 1 $ $ Additions for uncertain tax positions of prior years — Decreases for uncertain tax positions of prior years — Additions for uncertain tax positions of current year — Ending balance at December 31 $ $

Notes Payable and Long-Term D28

Notes Payable and Long-Term Debt (Tables)	12 Months Ended
	Dec. 31, 2015
Notes Payable and Long-Term Debt
Summary of long-term debt	December 31, (Millions of dollars) 2015 2014 Term Loan due 2022 $ $ — Foreign subsidiary obligations due 2020 through 2023 — Total long-term debt at face value — Current maturities of long-term debt and unamortized discount — Long-term debt, less current maturities and unamortized discount $ $ —

Derivatives and Fair Value of29

Derivatives and Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2015
Derivatives and Fair Value of Financial Instruments
Schedule of assets and liabilities measured at fair value on a recurring basis	Balance December 31, (Millions 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 — — Domestic debt securities — — Foreign equity securities — — High yield debt securities — — Money market funds held in trading accounts — — 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 — — Total Liabilities $ $ $ $ — (1)     Seaboard’s commodity derivative assets and liabilities are presented in the Consolidated Balance Sheets on a net basis, including netting the derivatives with the related margin accounts. As of December 31, 2015 , the commodity derivatives had a margin account balance of $29 million resulting in a net other current asset on the Consolidated Balance Sheet of $15 million. Balance December 31, (Millions 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 securities — — Money market funds held in trading accounts — — Domestic debt securities — 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 — — Total Liabilities $ $ $ $ — (1)     Seaboard’s commodity derivative assets and liabilities are presented in the 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 million resulting in a net other current asset on the Consolidated Balance Sheet of $9 million and a net other current liability of $1 million.
Schedule of amortized cost and estimated fair values of investments and long term debt	December 31, 2015 2014 (Millions of dollars) Amortized Cost Fair Value Amortized Cost Fair Value Short-term investments, available-for-sale $ $ $ $ Short-term investments, trading debt securities Long-term debt — —
Schedule of gain or (loss) recognized for each type of derivative and its location in the Consolidated Statements of Comprehensive Income	(Millions of dollars) 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 Consolidated Balance Sheets	Asset Derivatives Liability Derivatives December 31, December 31, December 31, December 31, (Millions 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 Consolidated Balance Sheets on a net basis, including netting the derivatives wit h the related margin accounts. As of December 31, 2015 and 2014 , the commodity derivatives had a margin account balance of $29 million and $4 million, respectively, resulting in a net other current asset on the Consolidated Balance Sheets of $15 million and $9 million, respectively, and a net other current liability of $0 million and $1 million as of December 31, 2015 and 2014 .

Employee Benefits (Tables)

Employee Benefits (Tables)	12 Months Ended
	Dec. 31, 2015
Employee Benefits
Schedule of Plans' assets measured at estimated fair value	Balance December 31, (Millions of dollars) 2015 Level 1 Level 2 Level 3 Assets: Domestic equity securities $ $ $ — $ — Foreign equity securities — — Real estate mutual fund — — Fixed income mutual funds — — Commodity mutual funds — — Money market funds — — International fixed income mutual funds — — Other — — Total Assets $ $ $ $ — Balance December 31, (Millions of dollars) 2014 Level 1 Level 2 Level 3 Assets: Domestic equity securities $ $ $ — $ — Foreign equity securities — — Real estate mutual fund — — Fixed income mutual funds — — Commodity mutual funds — — International fixed income mutual funds — — Money market funds — — Other — — Total Assets $ $ $ $ —
Schedule of assumptions used in determining pension information for plans	Years ended December 31, 2015 2014 2013 Weighted-average assumptions Discount rate used to determine obligations 3.20 - 4.80 % 3.15 - 4.40 % 3.55 - 5.20 % Discount rate used to determine net periodic benefit cost 2.70 - 4.40 % 3.55 - 5.20 % 2.50 - 4.15 % Expected return on plan assets 6.75 - 7.50 % 7.00 - 8.00 % 6.50 - 7.25 % Long-term rate of increase in compensation levels 4.00 % 4.00 % 4.00 %
Schedule of the funded status	December 31, (Millions of dollars) 2015 2014 Reconciliation of benefit obligation: Benefit obligation at beginning of year $ $ Service cost Interest cost Actuarial losses (gains) Benefits paid Other Benefit obligation at end of year $ $ Reconciliation of fair value of plan assets: Fair value of plan assets at beginning of year $ $ Actual return on plan assets Employer contributions Benefits paid Other — Fair value of plan assets at end of year $ $ Funded status $ $
Schedule of net periodic benefit cost of plans	Years ended December 31, (Millions of dollars) 2015 2014 2013 Components of net periodic benefit cost: Service cost $ $ $ Interest cost Expected return on plan assets Amortization and other Agreement termination gain — Net periodic benefit cost $ $ $

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies
Schedule of non-cancelable purchase commitments and commitments under other agreements	Years ended December 31, (Millions of dollars) 2016 2017 2018 2019 2020 Thereafter Hog procurement contracts $ $ $ $ $ — $ — Grain and feed ingredients — — — — — Grain purchase contracts for resale — — — — — Fuel supply contract — — — — — Equipment purchases and facility improvements — — — — — Construction of new dry bulk vessels — — — — — Other purchase commitments — Total firm purchase commitments — Vessel, time and voyage-charters Contract grower finishing agreements — — Other operating lease payments Investment in pork processing facility joint venture — — Total unrecognized firm commitments $ $ $ $ $ $

Stockholders' Equity and Accu32

Stockholders' Equity and Accumulated Other Comprehensive Loss (Tables)	12 Months Ended
	Dec. 31, 2015
Stockholders' Equity and Accumulated Other Comprehensive Loss
Schedule of components of accumulated other comprehensive loss, net of related taxes	Cumulative Foreign Unrealized Currency Gain (Loss) Unrecognized Translation on Pension (Millions of dollars) Adjustment Investments Cost Total Balance December 31, 2013 $ $ — $ $ Other comprehensive income (loss) before reclassifications Amounts reclassified from accumulated other comprehensive loss to net earnings — — (1) Other comprehensive income (loss), net of tax Balance December 31, 2014 $ $ $ $ Other comprehensive income (loss) before reclassifications — Amounts reclassified from accumulated other comprehensive income loss to net earnings — — (1) Other comprehensive income (loss), net of tax — Balance December 31, 2015 $ $ $ $ (1)     This primarily represents the amortization of actuarial losses that were included in net periodic pension cost and was recorded in operating income. See Note 9 for further discussion.

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2015
Segment Information
Summary of specific financial information related to sales to external customers	Years ended December 31, (Millions of dollars) 2015 2014 2013 Pork $ $ $ Commodity Trading and Milling Marine Sugar Power All Other Segment/Consolidated Totals $ $ $
Summary of specific financial information related to operating income (loss)	Years ended December 31, (Millions of dollars) 2015 2014 2013 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	Years ended December 31, (Millions of dollars) 2015 2014 2013 Pork $ $ $ — Commodity Trading and Milling Marine — — Sugar Power Turkey Segment/Consolidated Totals $ $ $
Summary of specific financial information related to depreciation and amortization	Years ended December 31, (Millions of dollars) 2015 2014 2013 Pork $ $ $ Commodity Trading and Milling Marine Sugar Power Segment Totals Corporate — — Consolidated Totals $ $ $
Summary of specific financial information related to total assets	December 31, (Millions 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	December 31, (Millions of dollars) 2015 2014 Pork $ $ Commodity Trading and Milling Marine Sugar Power Turkey Segment/Consolidated Totals $ $
Summary of specific financial information related to capital expenditures	Years ended December 31, (Millions of dollars) 2015 2014 2013 Pork $ $ $ Commodity Trading and Milling Marine Sugar Power Segment Totals Corporate — — Consolidated Totals $ $ $
Geographic summary of net sales based on the location of product delivery	Years ended December 31, (Millions of dollars) 2015 2014 2013 Caribbean, Central and South America $ $ $ Africa United States Pacific Basin and Far East Canada/Mexico Eastern Mediterranean Europe Totals $ $ $
Geographic summary of the entity's long-lived assets according to their physical location and primary port for the vessels	December 31, (Millions of dollars) 2015 2014 United States $ $ Dominican Republic Argentina All other Totals $ $

Summary of Significant Accoun34

Summary of Significant Accounting Policies (Details) $ in Millions	Sep. 27, 2014USD ($)	Sep. 27, 2014USD ($)	Jul. 04, 2015USD ($)MW	Dec. 31, 2015USD ($)item	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Jan. 01, 2013USD ($)	Dec. 31, 2006USD ($)
Operations of Seaboard Corporation and its Subsidiaries
Percentage of ownership interest held by Seaboard Flour LLC and SFC Preferred LLC (Parent Companies)				76.00%
Goodwill and Other Intangible Assets
Goodwill				$ 12	$ 15
Impairment charges				0
Changes in the asset retirement obligation
Beginning balance				17	16
Accretion Expense				1	1
Ending balance				18	17	$ 16
Change in Accounting Method
Cumulative effect of a change in accounting method (see Note 1)						6
Cash and Cash Equivalents
Interest				17	20	11
Income taxes (net of refunds)				60	135	60
Supplemental Non-Cash Transactions
Gain (loss) on sale of controlling interest in subsidiary					66
Net proceeds from sale of controlling interest in subsidiary					74
Non-cash, pay-in-kind interest income and accretion of discount recognized on a note receivable from an affiliate				$ 17	16	$ 14
Foreign Currency Transactions and Translation
Number of consolidated subsidiaries using local currency as their functional currency | item				3
Number of non-controlled, non-consolidated affiliates using local currency as their functional currency | item				9
Minimum
Principles of Consolidation and Investments in Affiliates
Time lag for reporting financial information of certain foreign subsidiaries and affiliates				1 month
Property, Plant and Equipment
Useful Lives				3 years
Maximum
Principles of Consolidation and Investments in Affiliates
Time lag for reporting financial information of certain foreign subsidiaries and affiliates				3 months
Property, Plant and Equipment
Useful Lives				30 years
Dominican Republic
Change in Accounting Method
Amount invested under equity method			$ 10
Capacity of power facility (in megawatts) | MW			300
Percentage of ownership			29.90%
Percentage of ownership interest accounted as cost method investment			20.00%
Amount invested under cost method								$ 6
Supplemental Non-Cash Transactions
Percentage of ownership			29.90%
Pork
Goodwill and Other Intangible Assets
Goodwill				$ 12	$ 12
Change in Accounting Method
Percentage of ownership	50.00%	50.00%		50.00%
Supplemental Non-Cash Transactions
Percentage of ownership	50.00%	50.00%		50.00%
Pork | Triumph
Supplemental Non-Cash Transactions
Percentage of ownership interest sold	50.00%	50.00%
Disposed of by Sale | Divestiture of a 50% interest in Daily's
Supplemental Non-Cash Transactions
Decrease in net working capital	$ 21
Increase in investments in and advances to affiliates	(74)
Decrease in property, plant and equipment	16
Decrease in goodwill	28
Decrease in other intangible assets, net (not subject to amortization)	17
Gain (loss) on sale of controlling interest in subsidiary	66
Net proceeds from sale of controlling interest in subsidiary	$ 74
Disposed of by Sale | Pork | Triumph | Divestiture of a 50% interest in Daily's
Supplemental Non-Cash Transactions
Percentage of ownership interest sold	50.00%	50.00%
Gain (loss) on sale of controlling interest in subsidiary		$ 66
Net proceeds from sale of controlling interest in subsidiary		$ 74
Change in accounting method | Dominican Republic
Change in Accounting Method
Cumulative effect of a change in accounting method (see Note 1)							$ 6

Summary of Significant Accoun35

Summary of Significant Accounting Policies - Derivatives (Details)	Dec. 31, 2015item
Designated as hedge
Derivative commodity instruments
Number of derivative agreements	0

Investments (Details)

Investments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Investments
Unrealized gains (losses) on trading securities	$ (12)	$ (7)	$ (1)
Total short term investments, amortized cost	1,269	497
Total short term investments, fair value	1,254	491
Available-for-sale securities.
Investments
Amortized Cost	81	167
Fair Value	81	167
Money market funds
Investments
Amortized Cost	81	142
Fair Value	81	142
Money market funds | Denominated in foreign currencies
Investments
Fair Value	3
Money market funds | Denominated in other foreign currencies
Investments
Fair Value		8
Corporate bonds
Investments
Amortized Cost		11
Fair Value		11
U.S. Government agency securities
Investments
Amortized Cost		10
Fair Value		10
Other available-for-sale securities
Investments
Amortized Cost		4
Fair Value		4
Trading securities.
Investments
Amortized Cost	1,188	330
Fair Value	1,173	324
Domestic equity securities
Investments
Amortized Cost	475	115
Fair Value	466	115
Domestic debt securities
Investments
Amortized Cost	452	5
Fair Value	450	5
Foreign equity securities
Investments
Amortized Cost	120
Fair Value	120
Foreign equity securities | Denominated in foreign currencies
Investments
Fair Value	80
Foreign equity securities | Denominated in Euros
Investments
Fair Value	25
Foreign equity securities | Denominated in Japanese Yen
Investments
Fair Value	20
Foreign equity securities | Denominated in British pounds
Investments
Fair Value	15
Foreign equity securities | Denominated in Swiss Franc
Investments
Fair Value	7
Foreign equity securities | Denominated in other foreign currencies
Investments
Fair Value	13
High yield trading debt securities
Investments
Amortized Cost	108	188
Fair Value	104	182
Money market funds held in trading accounts
Investments
Amortized Cost	22	21
Fair Value	22	21
Collateralized loan obligation
Investments
Amortized Cost	10
Fair Value	10
Other trading securities
Investments
Amortized Cost	1	1
Fair Value	$ 1	1
Morocco | Grain trading and poultry business
Investments
Cost method investment ownership percentage	12.00%
Amount invested under cost method	$ 18
Other non-current assets
Investments
Cost method investments	$ 20	$ 4

Inventories (Details)

Inventories (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
At lower of LIFO cost or market:
Live hogs and materials	$ 210	$ 209
Fresh pork and materials	26	29
Inventories at lower of LIFO cost or market, Gross	236	238
LIFO adjustment	(28)	(37)
Total inventories at lower of LIFO cost or market	208	201
At lower of FIFO cost or market:
Grains, oilseeds and other commodities	330	320
Sugar produced and in process	52	49
Other	61	57
Total inventories at lower of FIFO cost or market	443	426
Grain, flour and feed at lower of weighted average cost or market	88	109
Total inventories	739	736
LIFO method increase (decrease) in earnings	$ 5	$ 16	$ 17
LIFO method increase (decrease) in earnings per share (in dollars per share)	$ 4.39	$ 13.29	$ 14.56
Amount that inventories would have been higher by if the FIFO method had been used	$ 28	$ 37

Investments in and Advances t38

Investments in and Advances to Affiliates and Notes Receivable from Affiliates (Details) $ / shares in Units, $ in Millions	May. 13, 2015USD ($)	Sep. 27, 2014USD ($)item$ / shares	Sep. 27, 2014USD ($)item	Dec. 31, 2012USD ($)	Sep. 28, 2013USD ($)	Dec. 31, 2010USD ($)	Dec. 31, 2015USD ($)	Jul. 04, 2015USD ($)MW	Dec. 31, 2014USD ($)	Oct. 01, 2011USD ($)	Dec. 31, 2015USD ($)item	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Jan. 30, 2016	Sep. 27, 2013	Jul. 27, 2013USD ($)	Jan. 01, 2013USD ($)	Dec. 31, 2006USD ($)
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Investments in and advances to affiliates							$ 671		$ 543		$ 671	$ 543
Notes receivable from affiliates							200		197		200	197
Proceeds from the sale of controlling interest in a subsidiary												74
Gain (loss) on sale of controlling interest in subsidiary												66
Income (loss) from affiliates											70	37	$ (4)
Cumulative effect of a change in accounting method (see Note 1)													6
Principal payments received on notes receivable											2	2	19
Receivables due from affiliates							$ 86		202		$ 86	202
Pork
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage of ownership		50.00%	50.00%				50.00%				50.00%
Investments in and advances to affiliates							$ 115		80		$ 115	80
Income (loss) from affiliates											11	4
Combined condensed financial information of the non-controlled, non-consolidated affiliates
Net sales											295	71
Net income (loss)											22	7
Total assets							247		175		247	175
Total liabilities							17		15		17	15
Total equity							230		160		230	160
Commodity Trading and Milling
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Investments in and advances to affiliates							218		178		218	178
Income (loss) from affiliates											(50)	(24)	(1)
Excess of carrying value of investment in affiliates over entity's share of affiliates' book value							30				30
Combined condensed financial information of the non-controlled, non-consolidated affiliates
Net sales											2,321	2,223	1,908
Net income (loss)											(52)	(20)	8
Total assets							1,265		1,132		1,265	1,132	1,039
Total liabilities							809		732		809	732	615
Total equity							456		400		456	400	424
Marine
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Investments in and advances to affiliates							19		17		19	17
Income (loss) from affiliates											2
Combined condensed financial information of the non-controlled, non-consolidated affiliates
Net sales											38
Net income (loss)											11
Total assets							148		119		148	119
Total liabilities							30		36		30	36
Total equity							118		83		118	83
Sugar
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Investments in and advances to affiliates							3		3		3	3
Income (loss) from affiliates											1	1	1
Combined condensed financial information of the non-controlled, non-consolidated affiliates
Net sales											9	9	12
Net income (loss)											2	2	1
Total assets							9		8		9	8	9
Total liabilities							2		2		2	2	3
Total equity							7		6		7	6	6
Turkey
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Investments in and advances to affiliates							282		245		282	245
Income (loss) from affiliates											103	54	(10)
Combined condensed financial information of the non-controlled, non-consolidated affiliates
Net sales											1,902	1,833	1,730
Net income (loss)											195	104	(20)
Total assets							1,087		1,021		1,087	1,021	907
Total liabilities							541		547		541	547	505
Total equity							546		474		546	474	402
Power
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Investments in and advances to affiliates							34		20		34	20
Income (loss) from affiliates											3	2	6
Combined condensed financial information of the non-controlled, non-consolidated affiliates
Net sales											141	50	135
Net income (loss)											12	9	34
Total assets							327		328		327	328	332
Total liabilities							219		230		219	230	243
Total equity							108		98		$ 108	98	$ 89
Minimum
Combined condensed financial information of the non-controlled, non-consolidated affiliates
Time lag for reporting financial information of certain foreign subsidiaries and affiliates											1 month
Maximum
Combined condensed financial information of the non-controlled, non-consolidated affiliates
Time lag for reporting financial information of certain foreign subsidiaries and affiliates											3 months
Triumph | Pork
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage of ownership interest sold		50.00%	50.00%
Triumph | Pork | Divestiture of a 50% interest in Daily's
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Gain on sale of controlling interest in subsidiary, net of tax		$ 40
Democratic Republic of Congo
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Notes receivable from affiliates							$ 59				$ 59
Dominican Republic
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage of ownership								29.90%
Amount invested under equity method								$ 10
Capacity of power facility (in megawatts) | MW								300
Amount invested under cost method																		$ 6
Dominican Republic | Power
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage of ownership							29.90%				29.90%
Number of businesses | item											1
Amount invested under cost method								$ 6
Businesses conducting flour, maize and feed milling, and poultry production and processing | Botswana | Commodity Trading and Milling
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage of ownership							49.00%				49.00%
Businesses conducting flour, maize and feed milling, and poultry production and processing | Democratic Republic of Congo | Commodity Trading and Milling
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage of ownership							50.00%				50.00%
Businesses conducting flour, maize and feed milling, and poultry production and processing | Gambia | Commodity Trading and Milling
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage of ownership							50.00%				50.00%
Businesses conducting flour, maize and feed milling, and poultry production and processing | Kenya | Minimum | Commodity Trading and Milling
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage of ownership							35.00%				35.00%
Businesses conducting flour, maize and feed milling, and poultry production and processing | Kenya | Maximum | Commodity Trading and Milling
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage of ownership							49.00%				49.00%
Businesses conducting flour, maize and feed milling, and poultry production and processing | Lesotho | Commodity Trading and Milling
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage of ownership							50.00%				50.00%
Businesses conducting flour, maize and feed milling, and poultry production and processing | Nigeria | Minimum | Commodity Trading and Milling
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage of ownership							25.00%				25.00%
Businesses conducting flour, maize and feed milling, and poultry production and processing | Nigeria | Maximum | Commodity Trading and Milling
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage of ownership							48.00%				48.00%
Businesses conducting flour, maize and feed milling, and poultry production and processing | South Africa | Minimum | Commodity Trading and Milling
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage of ownership							30.00%				30.00%
Businesses conducting flour, maize and feed milling, and poultry production and processing | South Africa | Maximum | Commodity Trading and Milling
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage of ownership							50.00%				50.00%
Businesses conducting flour, maize and feed milling, and poultry production and processing | Turkey | Commodity Trading and Milling
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage of ownership							25.00%				25.00%
Businesses conducting flour, maize and feed milling, and poultry production and processing | Zambia | Commodity Trading and Milling
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage of ownership							49.00%				49.00%
Businesses conducting flour, maize and feed milling, and poultry production and processing | Brazil | Commodity Trading and Milling
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage of ownership							50.00%				50.00%
Businesses conducting flour, maize and feed milling, and poultry production and processing | Colombia | Minimum | Commodity Trading and Milling
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage of ownership							40.00%				40.00%
Businesses conducting flour, maize and feed milling, and poultry production and processing | Colombia | Maximum | Commodity Trading and Milling
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage of ownership							42.00%				42.00%
Businesses conducting flour, maize and feed milling, and poultry production and processing | Ecuador | Minimum | Commodity Trading and Milling
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage of ownership							25.00%				25.00%
Businesses conducting flour, maize and feed milling, and poultry production and processing | Ecuador | Maximum | Commodity Trading and Milling
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage of ownership							50.00%				50.00%
Businesses conducting flour, maize and feed milling, and poultry production and processing | Haiti | Commodity Trading and Milling
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage of ownership							23.00%				23.00%
Businesses conducting flour, maize and feed milling, and poultry production and processing | Jamaica | Commodity Trading and Milling
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage of ownership							50.00%				50.00%
Bakery business | Democratic Republic of Congo
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage of ownership							50.00%				50.00%
Investment in equity and long-term advances											$ 35
Bakery business | Democratic Republic of Congo | Commodity Trading and Milling
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Reserve on remaining portion of advances and long-term notes receivable									11
Agricultural commodity trading businesses | Australia | Commodity Trading and Milling
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage of ownership							25.00%				25.00%
Agricultural commodity trading businesses | Peru | Commodity Trading and Milling
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage of ownership							50.00%				50.00%
Agricultural commodity trading businesses | Uruguay | Commodity Trading and Milling
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage of ownership							45.00%				45.00%
Agricultural commodity trading businesses | United States | Commodity Trading and Milling
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage of ownership							40.00%				40.00%
Cargo terminal business | Jamaica | Marine
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage of ownership		21.00%	21.00%				21.00%				21.00%
Investments in and advances to affiliates		$ 17	$ 17
Sugar related businesses | Argentina
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Number of businesses | item											2
Sugar related businesses | Argentina | Minimum | Sugar
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage of ownership							46.00%				46.00%
Sugar related businesses | Argentina | Maximum | Sugar
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage of ownership							50.00%				50.00%
Butterball, LLC
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage ownership acquired							50.00%				50.00%
Investee's intangible assets for trade name							$ 111				$ 111
Investee's intangible assets for goodwill							74				$ 74
Loan provided to affiliate				$ 81
Percentage of the Butterball's earnings recorded as income from affiliates in the Consolidated Statements of Comprehensive Income (as a percent)											52.50%
Butterball, LLC | Subordinated loan
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Loan provided to affiliate						$ 100
Maturity period of unsecured subordinated loan provided						7 years
Interest rate on loan provided (as a percent)						15.00%								10.00%
Percentage of interest payable in cash						5.00%
Percentage of pay-in-kind interest						10.00%
Notes receivable from affiliates						$ 89	$ 158		141		$ 158	141
Butterball, LLC | Detachable warrants
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Additional equity interest that can be acquired upon exercise of warrants (as a percent)							5.00%				5.00%
Economic interest (as a percent)							52.50%				52.50%
Notes receivable from affiliates						$ 11
Butterball, LLC | Term loan
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Loan provided to affiliate										$ 13
Interest rate on loan provided (as a percent)							12.00%				12.00%
Notes receivable from affiliates							$ 8		8		$ 8	8
Flour production business | Brazil
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage of ownership					50.00%
Percentage of interest payable in cash															50.00%
Percentage of pay-in-kind interest															50.00%
Investments in and advances to affiliates					$ 17
Reserve on remaining portion of advances and long-term notes receivable											22
Investment in business, advances and long-term note receivable							0				0
Additional investment or capital contribution											28
Income (loss) from affiliates											60	8
Note receivable from affiliate									14			14
Equity method investment and advances									12			12
Gross receivable due from affiliate							17		14		17	14
Bad debt expense for receivable from affiliates											9
Flour production business | Brazil | Commodity Trading and Milling
Combined condensed financial information of the non-controlled, non-consolidated affiliates
Net sales											53	114
Net income (loss)											69	16
Total assets							52		101		52	101
Third-party debt							$ 16		$ 15		$ 16	$ 15
Time lag for reporting financial information of certain foreign subsidiaries and affiliates											3 months
Flour production business | Brazil | Term loan
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Loan provided to affiliate					$ 13
Period after which loan provided to affiliates can be repaid					1 year
Period after which loan provided to affiliates can be converted into equity					1 year
Flour milling business | Botswana
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage of ownership							49.00%				49.00%
Amount invested under equity method											$ 8
Flour milling business | Gambia
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage of ownership																50.00%
Investments in and advances to affiliates																$ 9
Flour milling business | South Africa
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage of ownership					49.00%
Investments in and advances to affiliates					$ 7
Seaboard Triumph Foods | Pork
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage of ownership	50.00%
Amount invested under equity method											26
Expected contribution in next fiscal year							$ 97				$ 97
Seaboard Triumph Foods | Maximum | Pork
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Commitment to contribute to joint venture	$ 207
Commodity trading business | Georgia
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage of ownership							40.00%				40.00%
Amount invested under equity method							$ 13
Oilseed crushing business | Turkey
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage of ownership							25.00%				25.00%
Amount invested under equity method											$ 10
Commodity trading and flour milling business | Uruguay
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage of ownership							45.00%				45.00%
Amount invested under equity method											$ 10
Pork processing facility | Pork
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Amount invested under equity method	26
Pork processing facility | Maximum | Pork
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Commitment to contribute to joint venture	$ 207
Disposed of by Sale | Divestiture of a 50% interest in Daily's
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Proceeds from the sale of controlling interest in a subsidiary			74
Gain (loss) on sale of controlling interest in subsidiary			$ 66
Number of processing units | item		2	2
Decrease (increase) in investments in and advances to affiliates			$ 74
Disposed of by Sale | Pork | Divestiture of a 50% interest in Daily's
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Excess of fair value over book value on sale		$ 33
Fair value of investment		74	74
Additional investment or capital contribution		2
Beginning total investment in affiliate		$ 76	$ 76
Disposed of by Sale | Triumph | Pork | Divestiture of a 50% interest in Daily's
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Percentage of ownership interest sold		50.00%	50.00%
Proceeds from the sale of controlling interest in a subsidiary		$ 74
Gain (loss) on sale of controlling interest in subsidiary		$ 66
Gain on sale of controlling interest in subsidiary, net of tax (in dollars per share) | $ / shares		$ 34.14
Change in accounting method | Dominican Republic
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Cumulative effect of a change in accounting method (see Note 1)																	$ 6
Change in accounting method | Dominican Republic | Power
Investments in and Advances to Affiliates and Notes Receivable from Affiliates
Cumulative effect of a change in accounting method (see Note 1)								$ 6

Net Property, Plant and Equip39

Net Property, Plant and Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Property, plant and equipment
Gross property, plant and equipment	$ 1,830	$ 1,787
Accumulated depreciation and amortization	(999)	(940)
Net property, plant and equipment	$ 831	847
Minimum
Property, plant and equipment
Useful Lives	3 years
Maximum
Property, plant and equipment
Useful Lives	30 years
Land and improvements
Property, plant and equipment
Gross property, plant and equipment	$ 185	185
Land and improvements | Minimum
Property, plant and equipment
Useful Lives	3 years
Land and improvements | Maximum
Property, plant and equipment
Useful Lives	15 years
Buildings and improvements
Property, plant and equipment
Useful Lives	30 years
Gross property, plant and equipment	$ 405	389
Machinery and equipment
Property, plant and equipment
Gross property, plant and equipment	$ 1,025	1,001
Machinery and equipment | Minimum
Property, plant and equipment
Useful Lives	3 years
Machinery and equipment | Maximum
Property, plant and equipment
Useful Lives	20 years
Vessels and vehicles
Property, plant and equipment
Gross property, plant and equipment	$ 150	160
Vessels and vehicles | Minimum
Property, plant and equipment
Useful Lives	3 years
Vessels and vehicles | Maximum
Property, plant and equipment
Useful Lives	18 years
Office furniture and fixtures
Property, plant and equipment
Useful Lives	5 years
Gross property, plant and equipment	$ 27	26
Construction in progress
Property, plant and equipment
Gross property, plant and equipment	$ 38	$ 26

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended			12 Months Ended
	Feb. 28, 2015	Dec. 31, 2015	Dec. 31, 2014	Mar. 30, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 18, 2015	Dec. 19, 2014
Income Taxes
Federal income tax rate (as a percent)					35.00%	35.00%	35.00%
Reconciliation of computed expected tax expense excluding non-controlling interest to income tax expense (benefit) attributable to continuing operations
Computed "expected" tax expense excluding non-controlling interest					$ 84	$ 187	$ 83
Adjustments to tax expense attributable to:
Foreign tax differences					22	4	2
Tax-exempt income					(11)	(9)	(33)
State income taxes, net of federal benefit					1	10	3
Federal tax credits					(16)	(12)	(21)
Domestic manufacturing deduction					(8)	(11)	(2)
Other					(3)	(1)
Income tax expense					69	168	32
Amount of refund claims for prior years not previously treated as tax-exempt included in income tax benefit recognized							17
Components of earnings before income taxes
United States					196	472	164
Foreign					44	63	80
Total earnings excluding non-controlling interest					240	535	244
Less: Net income attributable to noncontrolling interest					(1)	(1)	(2)
Earnings (loss) before income taxes					241	536	246
Current:
Federal					52	111	(34)
Foreign					20	20	28
State and local					6	12	3
Deferred:
Federal					(14)	20	25
Foreign					8	1	5
State and local					(3)	4	5
Income tax expense					69	168	32
Unrealized changes in other comprehensive income					0	(27)	10
Total income taxes					69	141	42
Income taxes receivable		$ 33	$ 49		33	49
Income taxes payable		4	5		4	5
Deferred income tax liabilities:
Depreciation		112	107		112	107
Domestic partnerships		53	49		53	49
LIFO		11	42		11	42
Cash basis farming adjustment		9	10		9	10
Other		9	4		9	4
Aggregate deferred income tax liabilities		194	212		194	212
Deferred income tax assets:
Reserves/accruals		103	111		103	111
Deferred earnings of foreign subsidiaries		36	35		36	35
Net operating and capital loss carry-forwards		10	19		10	19
Tax credit carry-forwards		14	15		14	15
Other		9	3		9	3
Aggregate deferred income tax assets		172	183		172	183
Valuation allowance		19	21		19	21
Net deferred income tax liability		41	50		41	50
Accrued interest and penalties on uncertain tax positions		4	3		4	3
Unrecognized tax benefits, if recognized, would affect the effective tax rate		7	7		7	7
Reconciliation of the beginning and ending amount of unrecognized tax benefits
Balance at the beginning of the year					7	7
Additions for uncertain tax positions of prior years					1
Decreases for uncertain tax positions of prior years					(2)
Additions for uncertain tax positions of current year					1
Balance at the end of the year		7	7		7	7	7
Undistributed earnings from foreign operations		977			$ 977
Net operating loss carry-forwards and tax credit carry-forwards
Period of low income housing tax credits on investments in various limited partnerships					10 years
Investments in limited partnerships		10	12		$ 10	12
Tax benefit arising due to difference between current and deferred taxes								$ 13	$ 11
Tax benefit arising due to difference between current and deferred taxes per common share								$ 10.92	$ 9.68
One-time tax benefit on enactment of law				$ 8
One-time Federal blender's credits recognized as revenue		$ 17	$ 15	$ 11
One-time Federal blender's credits recognized as revenue per common share		$ 14.88
Other commitments
Contribution to long-term investment					28	$ 3	$ 4
Refined coal processing plant
Other commitments
Contribution to long-term investment	$ 9
Commitment to contribute to joint venture	53
Refined coal processing plant | Minimum
Other commitments
Expected contribution in next fiscal year	4
Refined coal processing plant | Maximum
Other commitments
Expected contribution in next fiscal year	$ 9
Foreign
Net operating loss carry-forwards and tax credit carry-forwards
Net operating loss carry-forwards (NOLs)		$ 22			22
State
Net operating loss carry-forwards and tax credit carry-forwards
Tax credit carry-forwards		$ 21			$ 21

Notes Payable and Long-Term D41

Notes Payable and Long-Term Debt - Notes payable and bank lines (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Oct. 28, 2015	Oct. 23, 2015	Dec. 31, 2014
Notes payable to bank
Notes Payable and Long Term Debt
Notes payable to banks	$ 141			$ 76
Repayment term	1 year
Weighted average interest rate (as a percent)	11.74%			14.34%
Committed bank line
Notes Payable and Long Term Debt
Credit facility cancelled or expired		$ 200
Committed bank line | Foreign subsidiaries
Notes Payable and Long Term Debt
Credit facility cancelled or expired			$ 50
Uncommitted bank lines
Notes Payable and Long Term Debt
Maximum capacity	$ 298
Letters of credit outstanding	3
Uncommitted bank lines | Foreign subsidiaries
Notes Payable and Long Term Debt
Notes payable to banks	141
Uncommitted bank lines | Foreign subsidiaries | South African Rand
Notes Payable and Long Term Debt
Notes payable to banks	61
Uncommitted bank lines | Foreign subsidiaries | Argentine pesos
Notes Payable and Long Term Debt
Notes payable to banks	33
Uncommitted bank lines | Seaboard | Foreign subsidiaries
Notes Payable and Long Term Debt
Maximum capacity	$ 248

Notes Payable and Long-Term D42

Notes Payable and Long-Term Debt - Summary of long-term debt (Details) - USD ($) $ in Millions	Dec. 04, 2015	Aug. 29, 2014	Sep. 27, 2014	Dec. 31, 2013	Jun. 29, 2013	Mar. 30, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Notes Payable and Long Term Debt
Total long-term debt at face value							$ 523
Current maturities of long-term debt and unamortized discount							(5)
Long-term debt, less current maturities and unamortized discount							518
Payments of long-term debt								$ 91	$ 54
Credit Agreement
Notes Payable and Long Term Debt
Payments of long-term debt		$ 86
Credit Agreement | Interest expense.
Notes Payable and Long Term Debt
Fee for early payment			$ 4
Term loan due 2022
Notes Payable and Long Term Debt
Total long-term debt at face value							$ 500
Face amount	$ 500
Proceeds from issuance of debt	499
Discount	$ 1
Effective interest rate (as a percent)							1.90%
Adjusted leverage ratio, maximum							50.00%
Minimum net worth base requirement							$ 2,000
Percentage of consolidated net income added to net worth base amount							25.00%
Maximum dividends per year							$ 25
Sum of subsidiary indebtedness and priority indebtedness as a percentage of consolidated tangible net worth, maximum							15.00%
Term loan due 2022 | Federal Funds Effective Rate
Notes Payable and Long Term Debt
Basis spread on variable rate (as a percent)	0.50%
Term loan due 2022 | LIBOR
Notes Payable and Long Term Debt
Basis spread on variable rate (as a percent)	1.00%
Variable rate basis							one month
Foreign subsidiary obligations due 2020 through 2023
Notes Payable and Long Term Debt
Total long-term debt at face value							$ 23
IDRBs
Notes Payable and Long Term Debt
Payments of long-term debt				$ 18	$ 11	$ 13

Notes Payable and Long-Term D43

Notes Payable and Long-Term Debt - Maturities and Argentine subsidiary (Details) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)loan
Maturities of long-term debt
2,016	$ 4
2,017	17
2,018	21
2,019	34
2,020	43
Thereafter	$ 404
Argentine subsidiary
Notes Payable and Long Term Debt
Number of loans obtained | loan	5
Time period the interest rate is fixed on loans	12 months
Time period of fixed deposits to determine average interest rate paid by retail banks	30 days
Minimum amount of fixed deposits to determine average interest rates paid by retail banks	$ 1
Weighted average interest rate (as a percent)	30.23%
Argentine subsidiary | Property, Plant and Equipment
Notes Payable and Long Term Debt
Collateral amount	$ 3
Argentine subsidiary | Minimum
Notes Payable and Long Term Debt
Interest rate (as a percent)	15.00%
Argentine subsidiary | Maximum
Notes Payable and Long Term Debt
Interest rate (as a percent)	32.00%

Derivatives and Fair Value of44

Derivatives and Fair Value of Financial Instruments - Assets and Liabilities at Fair Value (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Derivatives and Fair Value of Financial Instruments
Transfers that occurred into or out of level 1	$ 0	$ 0
Transfers that occurred into or out of level 2	0	0
Transfers that occurred into or out of level 3	0	0
Commodities
Assets:
Margin account	29	4
Other accrued liabilities | Commodities
Liabilities:
Derivatives		1
Money market funds
Assets:
Available-for-sale securities	81	142
Corporate bonds
Assets:
Available-for-sale securities		11
U.S. Government agency securities
Assets:
Available-for-sale securities		10
Other available-for-sale securities
Assets:
Available-for-sale securities		4
Domestic equity securities
Assets:
Trading securities	466	115
Domestic debt securities
Assets:
Trading securities	450	5
Foreign equity securities
Assets:
Trading securities	120
High yield trading debt securities
Assets:
Trading securities	104	182
Money market funds held in trading accounts
Assets:
Trading securities	22	21
Fair Value
Assets:
Available-for-sale securities	81	167
Trading securities	1,173	324
Recurring basis | Fair Value
Assets:
Total Assets	1,309	546
Liabilities:
Liabilities	24	10
Recurring basis | Fair Value | Commodities
Assets:
Derivatives	4	6
Margin account	29	4
Derivative assets and liabilities, net basis	15	9
Liabilities:
Derivatives	18	2
Recurring basis | Fair Value | Interest rate swaps
Liabilities:
Derivatives	6	8
Recurring basis | Fair Value | Foreign currencies
Assets:
Derivatives	8	1
Recurring basis | Fair Value | Money market funds | Short-term investments.
Assets:
Available-for-sale securities	81	142
Recurring basis | Fair Value | Corporate bonds | Short-term investments.
Assets:
Available-for-sale securities		11
Recurring basis | Fair Value | U.S. Government agency securities | Short-term investments.
Assets:
Available-for-sale securities		10
Recurring basis | Fair Value | Other available-for-sale securities | Short-term investments.
Assets:
Available-for-sale securities		4
Recurring basis | Fair Value | Domestic equity securities | Short-term investments.
Assets:
Trading securities	466	115
Recurring basis | Fair Value | Domestic equity securities | Other current assets
Assets:
Trading securities	31	34
Recurring basis | Fair Value | Domestic debt securities | Short-term investments.
Assets:
Trading securities	450	5
Recurring basis | Fair Value | Foreign equity securities | Short-term investments.
Assets:
Trading securities	120
Recurring basis | Fair Value | Foreign equity securities | Other current assets
Assets:
Trading securities	5	7
Recurring basis | Fair Value | High yield trading debt securities | Short-term investments.
Assets:
Trading securities	104	182
Recurring basis | Fair Value | Money market funds held in trading accounts | Short-term investments.
Assets:
Trading securities	22	21
Recurring basis | Fair Value | Collateralized loan obligations | Short-term investments.
Assets:
Trading securities	10
Recurring basis | Fair Value | Other trading securities | Short-term investments.
Assets:
Trading securities	1	1
Recurring basis | Fair Value | Fixed income mutual funds | Other current assets
Assets:
Trading securities	4	5
Recurring basis | Fair Value | Other | Other current assets
Assets:
Trading securities	3	2
Recurring basis | Level 1
Assets:
Total Assets	1,185	335
Liabilities:
Liabilities	18	2
Recurring basis | Level 1 | Commodities
Assets:
Derivatives	4	6
Liabilities:
Derivatives	18	2
Recurring basis | Level 1 | Money market funds | Short-term investments.
Assets:
Available-for-sale securities	81	142
Recurring basis | Level 1 | Domestic equity securities | Short-term investments.
Assets:
Trading securities	466	115
Recurring basis | Level 1 | Domestic equity securities | Other current assets
Assets:
Trading securities	31	34
Recurring basis | Level 1 | Domestic debt securities | Short-term investments.
Assets:
Trading securities	450	3
Recurring basis | Level 1 | Foreign equity securities | Short-term investments.
Assets:
Trading securities	120
Recurring basis | Level 1 | Foreign equity securities | Other current assets
Assets:
Trading securities	5	7
Recurring basis | Level 1 | Money market funds held in trading accounts | Short-term investments.
Assets:
Trading securities	22	21
Recurring basis | Level 1 | Fixed income mutual funds | Other current assets
Assets:
Trading securities	4	5
Recurring basis | Level 1 | Other | Other current assets
Assets:
Trading securities	2	2
Recurring basis | Level 2
Assets:
Total Assets	124	211
Liabilities:
Liabilities	6	8
Recurring basis | Level 2 | Interest rate swaps
Liabilities:
Derivatives	6	8
Recurring basis | Level 2 | Foreign currencies
Assets:
Derivatives	8	1
Recurring basis | Level 2 | Corporate bonds | Short-term investments.
Assets:
Available-for-sale securities		11
Recurring basis | Level 2 | U.S. Government agency securities | Short-term investments.
Assets:
Available-for-sale securities		10
Recurring basis | Level 2 | Other available-for-sale securities | Short-term investments.
Assets:
Available-for-sale securities		4
Recurring basis | Level 2 | Domestic debt securities | Short-term investments.
Assets:
Trading securities		2
Recurring basis | Level 2 | High yield trading debt securities | Short-term investments.
Assets:
Trading securities	104	182
Recurring basis | Level 2 | Collateralized loan obligations | Short-term investments.
Assets:
Trading securities	10
Recurring basis | Level 2 | Other trading securities | Short-term investments.
Assets:
Trading securities	1	$ 1
Recurring basis | Level 2 | Other | Other current assets
Assets:
Trading securities	$ 1

Derivatives and Fair Value of45

Derivatives and Fair Value of Financial Instruments - Fair Value of Investments and Long-Term Debt (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Amortized Cost
Schedule of amortized cost and estimated fair values of investments and long term debt
Short-term investments, available-for-sale	$ 81	$ 167
Short-term investments, trading debt securities	1,188	330
Long-term debt	522
Fair Value
Schedule of amortized cost and estimated fair values of investments and long term debt
Short-term investments, available-for-sale	81	167
Short-term investments, trading debt securities	1,173	$ 324
Long-term debt	$ 522

Derivatives and Fair Value of46

Derivatives and Fair Value of Financial Instruments - Instruments and Agreements (Details) $ in Millions	1 Months Ended	12 Months Ended
	May. 29, 2010USD ($)agreement	Dec. 31, 2015USD ($)itemagreement	Dec. 31, 2014USD ($)itemagreement	Dec. 31, 2013USD ($)
Commodities
Derivative commodity instruments
Amount of Gain or (Loss) Recognized in Income on Derivatives | $		$ (45)	$ 18	$ (17)
Net commodity purchase contracts | Sugar
Derivative commodity instruments
Nonmonetary notional amount		3,000,000	16,000,000
Net commodity purchase contracts | Hogs
Derivative commodity instruments
Nonmonetary notional amount		25,000,000	20,000,000
Net commodity purchase contracts | Grain
Derivative commodity instruments
Nonmonetary notional amount		22,000,000	11,000,000
Net commodity purchase contracts | Soybean oil
Derivative commodity instruments
Nonmonetary notional amount			20,000,000
Net commodity sale contracts | Heating oil
Derivative commodity instruments
Nonmonetary notional amount			4,000,000
Net commodity sale contracts | Soybean oil
Derivative commodity instruments
Nonmonetary notional amount		8,000,000
Foreign currencies
Derivative commodity instruments
Notional amounts | $		$ 94	$ 144
Interest rate swaps
Derivative commodity instruments
Notional amounts | $	$ 25	$ 119	$ 163
Number of derivative agreements | agreement	3	5	7
Term of derivative contract	10 years
Eight-year interest rate exchange agreements
Derivative commodity instruments
Notional amounts | $		$ 22
Number of derivative agreements | agreement		4
Term of derivative contract		8 years
Number of agreements terminated and not renewed | agreement		2
Number of bulk vessels delivered		2

Derivatives and Fair Value of47

Derivatives and Fair Value of Financial Instruments - Gain (Loss) on Derivatives (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Commodities
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	$ (45)	$ 18	$ (17)
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	(45)	18
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	16	4
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	2	4
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)	$ (8)

Derivatives and Fair Value of48

Derivatives and Fair Value of Financial Instruments - Fair Value of Derivatives (Details) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)item	Dec. 31, 2014USD ($)
Commodities
Fair value of each type of derivative and its location in the Consolidated Balance Sheets
Margin account	$ 29	$ 4
Commodities | Other current assets
Fair value of each type of derivative and its location in the Consolidated Balance Sheets
Asset Derivatives	4	6
Derivative assets and liabilities, net basis	15	9
Commodities | Other current liabilities
Fair value of each type of derivative and its location in the Consolidated Balance Sheets
Liability Derivatives	18	2
Derivative assets and liabilities, net basis	0	1
Foreign currencies
Fair value of each type of derivative and its location in the Consolidated Balance Sheets
Loss due to credit risk associated with derivative contracts	$ 8
Number of counterparties | item	7
Foreign currencies | Other current assets
Fair value of each type of derivative and its location in the Consolidated Balance Sheets
Asset Derivatives	$ 8	1
Interest rate swaps
Fair value of each type of derivative and its location in the Consolidated Balance Sheets
Loss due to credit risk associated with derivative contracts	0
Interest rate swaps | Other current liabilities
Fair value of each type of derivative and its location in the Consolidated Balance Sheets
Liability Derivatives	$ 6	$ 8

Employee Benefits (Details)

Employee Benefits (Details) $ in Millions	1 Months Ended	12 Months Ended
	Sep. 28, 2013USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2015USD ($)plan	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Jul. 27, 2013
Target allocation and pension plan asset allocation
Contributions made to defined benefit pension plans		$ 4	$ 3
Estimated fair value of plan assets		122	120	$ 120	$ 114	$ 122	$ 120
Reconciliation of benefit obligation:
Benefit obligation at beginning of year		257	203
Service cost		10	8	9
Interest cost		10	10	8
Actuarial losses (gains)		(18)	44
Benefits paid		(8)	(7)
Plan settlement		(2)	(1)
Benefit obligation at end of year		249	257	203
Reconciliation of fair value of plan assets:
Fair value of plan assets at beginning of year		122	120
Actual return on plan assets		(4)	7
Employer contributions		4	3
Benefits paid		(8)	(7)
Plan settlement			(1)
Fair value of plan assets at end of year		114	122	120
Expected future net benefit payments
2,016					12
2,017					12
2,018					14
2,019					13
2,020					15
2021 - 2025					85
Agreement termination gain, before tax		1		3
Agreement termination gain, net of tax				2
Agreement termination gain unrecognized in other comprehensive income, before tax				2
Agreement termination gain unrecognized in other comprehensive income, net of tax				1
Funded status					(135)	(135)
Components of net periodic benefit cost:
Service cost		10	8	9
Interest cost		10	10	8
Expected return on plan assets		(8)	(9)	(6)
Amortization and other		5	2	6
Agreement termination gain		(1)		(3)
Net periodic benefit cost		16	11	14
Amounts not reflected in net periodic benefit cost and included in accumulated other comprehensive loss (AOCL) before taxes
Total accumulated other comprehensive loss					$ 72	86
Amounts in AOCL expected to be recognized as components of net periodic benefit cost in 2016
Amounts in AOCL expected to be recognized as components of net periodic benefit cost in 2016		4
Contribution expense for multi-employer pension fund, the United Food & Commercial Workers International Union-Industry Pension Fund, which covers certain union employees under a collective bargaining agreement		$ 1	$ 1	$ 1
Maximum percentage of total contributions to multi-employer pension fund		5.00%	5.00%	5.00%
Defined benefit pension plan
Target allocation and pension plan asset allocation
Number of defined benefit plans | plan					2
Requisite service period upon attaining age of 21 to be eligible for participation		1 year
Requisite age of employees to be eligible for participation		21 years
Contributions made to defined benefit pension plans	$ 10
Estimated fair value of plan assets		$ 122	$ 122		$ 114	122
Weighted-average assumptions
Long-term rate of increase in compensation levels (as a percent)		4.00%	4.00%	4.00%
Reconciliation of fair value of plan assets:
Fair value of plan assets at beginning of year		$ 122
Employer contributions	$ 10
Fair value of plan assets at end of year		114	$ 122
Expected future net benefit payments
Funded status					(50)	(48)
Accumulated benefit obligation					143	144
Defined benefit pension plan | Level 1
Target allocation and pension plan asset allocation
Estimated fair value of plan assets		117	117		109	117
Reconciliation of fair value of plan assets:
Fair value of plan assets at beginning of year		117
Fair value of plan assets at end of year		109	117
Defined benefit pension plan | Level 2
Target allocation and pension plan asset allocation
Estimated fair value of plan assets		5	5		5	5
Reconciliation of fair value of plan assets:
Fair value of plan assets at beginning of year		5
Fair value of plan assets at end of year		5	5
Defined benefit pension plan | Foreign equity securities
Target allocation and pension plan asset allocation
Estimated fair value of plan assets		28	28		27	28
Reconciliation of fair value of plan assets:
Fair value of plan assets at beginning of year		28
Fair value of plan assets at end of year		27	28
Defined benefit pension plan | Foreign equity securities | Level 1
Target allocation and pension plan asset allocation
Estimated fair value of plan assets		28	28		27	28
Reconciliation of fair value of plan assets:
Fair value of plan assets at beginning of year		28
Fair value of plan assets at end of year		27	28
Defined benefit pension plan | Domestic equity securities
Target allocation and pension plan asset allocation
Estimated fair value of plan assets		67	67		64	67
Reconciliation of fair value of plan assets:
Fair value of plan assets at beginning of year		67
Fair value of plan assets at end of year		64	67
Defined benefit pension plan | Domestic equity securities | Level 1
Target allocation and pension plan asset allocation
Estimated fair value of plan assets		67	67		64	67
Reconciliation of fair value of plan assets:
Fair value of plan assets at beginning of year		67
Fair value of plan assets at end of year		64	67
Defined benefit pension plan | Real estate mutual fund
Target allocation and pension plan asset allocation
Estimated fair value of plan assets		9	9		8	9
Reconciliation of fair value of plan assets:
Fair value of plan assets at beginning of year		9
Fair value of plan assets at end of year		8	9
Defined benefit pension plan | Real estate mutual fund | Level 1
Target allocation and pension plan asset allocation
Estimated fair value of plan assets		9	9		8	9
Reconciliation of fair value of plan assets:
Fair value of plan assets at beginning of year		9
Fair value of plan assets at end of year		8	9
Defined benefit pension plan | Fixed income mutual funds
Target allocation and pension plan asset allocation
Estimated fair value of plan assets		2	2		5	2
Reconciliation of fair value of plan assets:
Fair value of plan assets at beginning of year		2
Fair value of plan assets at end of year		5	2
Defined benefit pension plan | Fixed income mutual funds | Level 1
Target allocation and pension plan asset allocation
Estimated fair value of plan assets		2	2		5	2
Reconciliation of fair value of plan assets:
Fair value of plan assets at beginning of year		2
Fair value of plan assets at end of year		5	2
Defined benefit pension plan | Commodity mutual funds
Target allocation and pension plan asset allocation
Estimated fair value of plan assets		4	4		2	4
Reconciliation of fair value of plan assets:
Fair value of plan assets at beginning of year		4
Fair value of plan assets at end of year		2	4
Defined benefit pension plan | Commodity mutual funds | Level 1
Target allocation and pension plan asset allocation
Estimated fair value of plan assets		4	4		2	4
Reconciliation of fair value of plan assets:
Fair value of plan assets at beginning of year		4
Fair value of plan assets at end of year		2	4
Defined benefit pension plan | International fixed income mutual funds
Target allocation and pension plan asset allocation
Estimated fair value of plan assets		4	4		1	4
Reconciliation of fair value of plan assets:
Fair value of plan assets at beginning of year		4
Fair value of plan assets at end of year		1	4
Defined benefit pension plan | International fixed income mutual funds | Level 1
Target allocation and pension plan asset allocation
Estimated fair value of plan assets		4	4		1	4
Reconciliation of fair value of plan assets:
Fair value of plan assets at beginning of year		4
Fair value of plan assets at end of year		1	4
Defined benefit pension plan | Money market funds
Target allocation and pension plan asset allocation
Estimated fair value of plan assets		3	3		2	3
Reconciliation of fair value of plan assets:
Fair value of plan assets at beginning of year		3
Fair value of plan assets at end of year		2	3
Defined benefit pension plan | Money market funds | Level 1
Target allocation and pension plan asset allocation
Estimated fair value of plan assets		3	3		2	3
Reconciliation of fair value of plan assets:
Fair value of plan assets at beginning of year		3
Fair value of plan assets at end of year		2	3
Defined benefit pension plan | Other
Target allocation and pension plan asset allocation
Estimated fair value of plan assets		5	5		5	5
Reconciliation of fair value of plan assets:
Fair value of plan assets at beginning of year		5
Fair value of plan assets at end of year		5	5
Defined benefit pension plan | Other | Level 2
Target allocation and pension plan asset allocation
Estimated fair value of plan assets		5	5		$ 5	$ 5
Reconciliation of fair value of plan assets:
Fair value of plan assets at beginning of year		5
Fair value of plan assets at end of year		$ 5	$ 5
Defined benefit pension plan | Minimum
Weighted-average assumptions
Discount rate used to determine obligations (as a percent)					3.20%	3.15%	3.55%
Discount rate used to determine net periodic benefit cost (as a percent)		2.70%	3.55%	2.50%
Expected return on plan assets (as a percent)		6.75%	7.00%	6.50%
Defined benefit pension plan | Minimum | Foreign equity securities
Target allocation and pension plan asset allocation
Target Allocations (as a percent)								20.00%
Defined benefit pension plan | Minimum | Fixed income
Target allocation and pension plan asset allocation
Target Allocations (as a percent)								10.00%
Defined benefit pension plan | Minimum | Alternative investments
Target allocation and pension plan asset allocation
Target Allocations (as a percent)								10.00%
Defined benefit pension plan | Minimum | Domestic equity securities
Target allocation and pension plan asset allocation
Target Allocations (as a percent)								40.00%
Defined benefit pension plan | Maximum
Weighted-average assumptions
Discount rate used to determine obligations (as a percent)					4.80%	4.40%	5.20%
Discount rate used to determine net periodic benefit cost (as a percent)		4.40%	5.20%	4.15%
Expected return on plan assets (as a percent)		7.50%	8.00%	7.25%
Defined benefit pension plan | Maximum | Foreign equity securities
Target allocation and pension plan asset allocation
Target Allocations (as a percent)								25.00%
Defined benefit pension plan | Maximum | Fixed income
Target allocation and pension plan asset allocation
Target Allocations (as a percent)								25.00%
Defined benefit pension plan | Maximum | Alternative investments
Target allocation and pension plan asset allocation
Target Allocations (as a percent)								15.00%
Defined benefit pension plan | Maximum | Domestic equity securities
Target allocation and pension plan asset allocation
Target Allocations (as a percent)								50.00%
Supplemental executive plans and retirement agreements
Expected future net benefit payments
Accumulated benefit obligation					$ 73	$ 73

Employee Benefits - Defined Con

Employee Benefits - Defined Contribution Plan (Details) $ in Millions	12 Months Ended			24 Months Ended
	Dec. 31, 2015USD ($)item	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2015USD ($)item
Deferred compensation plan
Number of investments, which are taken as reference to measure the interest that may be acquired | item	3			3
Employer contribution as percentage of the employees' reduced compensation	3.00%
Number of deferred compensation plans | item	2			2
Deferred compensation plan expense		$ 3	$ 6
Deferred compensation plan liability included in other liabilities	$ 38	43		$ 38
Deferred compensation plan assets included in other current assets	$ 43	48		$ 43
Investment income related to the mark-to-market of investments treated as trading securities		$ 3	$ 6
Defined contribution plan covering domestic, salaried and clerical employees
Defined contribution plans
Employer contribution (as a percent of employee contributions)	50.00%	50.00%	50.00%
Employer contribution limit per calendar year (as a percent of compensation)	6.00%	6.00%	6.00%
Vesting percentage after one year of service			20.00%	20.00%
Additional vesting percentage with each additional complete year of service			20.00%	20.00%
Contribution expense	$ 2	$ 2	$ 2

Commitments and Contingencies -

Commitments and Contingencies - Numbers of Items (Details) - item	Jul. 02, 2015	Apr. 29, 2015	Oct. 17, 2014	Sep. 18, 2014	Dec. 31, 2015	Sep. 19, 2012
Commitments and Contingencies
Number of foreign companies, where records requested by court		37
Number of individuals, where records requested by court		5	1	1
Number of entities, where records requested by court			8	9
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.						3
Number of civil or criminal proceedings or charges filed					0
Number of subpoenas received	2

Commitments and Contingencies52

Commitments and Contingencies (Details) $ in Millions	May. 13, 2015USD ($)	Feb. 27, 2016USD ($)	Jan. 30, 2016item	Jun. 30, 2012USD ($)item	Dec. 31, 2015USD ($)item	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Commitments
2,016					$ 856
2,017					215
2,018					118
2,019					86
2,020					59
Thereafter					236
Operating Leases
2,016					28
2,017					28
2,018					26
2,019					25
2,020					24
Thereafter					190
Rental expense for operating leases					42	$ 35	$ 34
Pork
Conditional and Unconditional Commitments
Payments to acquire inventory and related assets		$ 148
Pork | Seaboard Triumph Foods
Conditional and Unconditional Commitments
Amount invested under equity method					$ 26
Pork | Seaboard Triumph Foods | Maximum
Conditional and Unconditional Commitments
Commitment to contribute to joint venture	$ 207
Pork | Pork processing facility
Conditional and Unconditional Commitments
Amount invested under equity method	26
Pork | Pork processing facility | Maximum
Conditional and Unconditional Commitments
Commitment to contribute to joint venture	$ 207
Commodity Trading and Milling
Conditional and Unconditional Commitments
Number of dry bulk vessels to be built | item				4
Cost of dry bulk vessels to be built				$ 90
Number of bulk vessels delivered | item			1		2
Number of bulk vessels not delivered | item					2
Hog procurement contracts
Commitments
2,016					$ 139
2,017					101
2,018					33
2,019					12
Hog procurement contracts | Pork
Conditional and Unconditional Commitments
Amount paid under the contract					171	227	191
Grain and feed ingredients
Commitments
2,016					78
Grain purchase contracts for resale
Commitments
2,016					358
Fuel supply contract
Commitments
2,016					5
Equipment purchases and facility improvements
Commitments
2,016					25
Construction of new dry bulk vessels
Commitments
2,016					29
Other purchase commitments
Commitments
2,016					35
2,017					8
2,018					8
2,019					9
2,020					13
Total firm purchase commitments
Commitments
2,016					669
2,017					109
2,018					41
2,019					21
2,020					13
Vessel, time and voyage-charters
Commitments
2,016					51
2,017					23
2,018					22
2,019					22
2,020					22
Thereafter					46
Vessel, time and voyage-charters | Marine
Conditional and Unconditional Commitments
Amount paid under the contract					$ 99	87	91
Vessel, time and voyage-charters | Marine | Minimum
Conditional and Unconditional Commitments
Contract period					1 year
Vessel, time and voyage-charters | Marine | Maximum
Conditional and Unconditional Commitments
Contract period					11 years
Contract grower finishing agreements
Commitments
2,016					$ 11
2,017					9
2,018					7
2,019					2
Contract grower finishing agreements | Pork
Conditional and Unconditional Commitments
Amount paid under the agreement					12	$ 13	$ 13
Incentive payments for achieving certain performance standards					1
Investment in pork processing facility joint venture
Commitments
2,016					97
2,017					46
2,018					22
2,019					$ 16

Stockholders' Equity and Accu53

Stockholders' Equity and Accumulated Other Comprehensive Loss (Details) - USD ($) $ / shares in Units, $ in Millions	Jun. 19, 2014	May. 24, 2014	Dec. 31, 2012	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Apr. 02, 2016	Oct. 31, 2015	Oct. 03, 2015
Components of and changes in accumulated other comprehensive loss, net of tax
Balance at beginning of the period				$ (253)	$ (182)
Other comprehensive income (loss) before reclassifications				(29)	(73)
Amounts reclassified from accumulated other comprehensive loss to net earnings				4	2
Other comprehensive income (loss), net of tax				(25)	(71)
Balance at end of the period				(278)	(253)	$ (182)
Cumulative foreign currency translation adjustment, net of related taxes				82	$ 56
Additional authorized repurchase amount under the November 2009 share repurchase program		$ 20
Common shares repurchased	16,738				18,405	8,705
Repurchase price (in dollars per share)	$ 2,950
Share price of common stock under repurchase program (in dollars per share)	$ 49				$ 53	$ 24
Remaining authorized repurchase amount before additional amount authorized under the share repurchase program				$ 100						$ 51
Remaining authorized repurchase amount									$ 100
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
Agreement termination gain unrecognized in other comprehensive income, net of tax						$ 1
Income tax rate for foreign currency translation gains and losses (as a percent)				35.00%	35.00%	35.00%
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				$ 18	$ 20
Sugar | Forecast
Components of and changes in accumulated other comprehensive loss, net of tax
Cumulative foreign currency translation adjustment, net of related taxes								$ 16
Argentine pesos | Sugar
Components of and changes in accumulated other comprehensive loss, net of tax
Net assets				96	122
U.S. dollars | Sugar
Components of and changes in accumulated other comprehensive loss, net of tax
Net assets				1	1
Cumulative foreign currency translation adjustment
Components of and changes in accumulated other comprehensive loss, net of tax
Balance at beginning of the period				(194)	(155)
Other comprehensive income (loss) before reclassifications				(34)	(39)
Other comprehensive income (loss), net of tax				(34)	(39)
Balance at end of the period				(228)	(194)	$ (155)
Unrealized gain on investments
Components of and changes in accumulated other comprehensive loss, net of tax
Balance at beginning of the period				1
Other comprehensive income (loss) before reclassifications					1
Other comprehensive income (loss), net of tax					1
Balance at end of the period				1	1
Unrecognized pension cost
Components of and changes in accumulated other comprehensive loss, net of tax
Balance at beginning of the period				(60)	(27)
Other comprehensive income (loss) before reclassifications				5	(35)
Amounts reclassified from accumulated other comprehensive loss to net earnings				4	2
Other comprehensive income (loss), net of tax				9	(33)
Balance at end of the period				$ (51)	$ (60)	$ (27)

Segment Information - Pork Segm

Segment Information - Pork Segment (Details) $ in Millions	3 Months Ended			12 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Mar. 30, 2013USD ($)	Dec. 31, 2015segment	Sep. 27, 2014
Segment Information
Number of reportable segments | segment				6
Segment Information
One-time Federal blender's credits recognized as revenue	$ 17	$ 15	$ 11
Pork
Segment Information
Percentage of ownership interest accounted as equity method investment	50.00%			50.00%	50.00%
One-time Federal blender's credits recognized as revenue	$ 17	$ 15	$ 11
Pork | Triumph
Segment Information
Percentage of ownership interest sold					50.00%

Segment Information - CT&M and

Segment Information - CT&M and Turkey Segments (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Commodity Trading and Milling | Bakery business | Democratic Republic of Congo
Segment Information
Reserve on remaining portion of advances and long-term notes receivable	$ 11
Turkey
Segment Information
Operating income (loss)		$ 231	$ 141	$ 5
Turkey | Butterball, LLC
Segment Information
Proportionate share of impairment charges of fixed assets recognized in loss from affiliate				$ (4)

Segment Information - Power Seg

Segment Information - Power Segment (Details) $ in Millions	3 Months Ended			12 Months Ended
	Dec. 31, 2015USD ($)	Jul. 04, 2015USD ($)MW	Sep. 27, 2014USD ($)MW	Dec. 31, 2015USD ($)segment	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Jan. 01, 2013USD ($)	Dec. 31, 2006USD ($)
Segment Information
Number of reportable segments | segment				6
Segment Information
Gain on sale of assets					$ 5
Cumulative effect of a change in accounting method						$ 6
Interest income recorded for interest recognized on certain customer receivable balances				$ 40	$ 14	$ 18
Dominican Republic
Segment Information
Percentage of ownership interest accounted as equity method investment		29.90%
Amount invested under equity method		$ 10
Capacity of power facility (in megawatts) | MW		300
Amount invested under cost method								$ 6
Electricity generating facility | Dominican Republic
Segment Information
Amount invested under equity method		$ 10
Capacity of power facility (in megawatts) | MW		300
Power | Dominican Republic
Segment Information
Percentage of ownership interest accounted as equity method investment	29.90%			29.90%
Amount invested under cost method		$ 6
Power | Electricity generating facility | Dominican Republic
Segment Information
Amount invested under cost method		$ 6
Cumulative effect of a change in accounting method							$ 6
Power | Floating power generating facility | Dominican Republic
Segment Information
Capacity of power facility leased (in megawatts) | MW			72
Gain on sale of assets			$ 5
Power | Accounts Receivable
Segment Information
Interest income recorded for interest recognized on certain customer receivable balances	$ 31

Segment Information - Specific

Segment Information - Specific Financial Information About Each Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Information
Sales to External Customers:	$ 5,594	$ 6,473	$ 6,670
Operating Income (Loss):	126	424	204
Income (loss) from affiliates	70	37	(4)
Depreciation and amortization	91	92	93
Total Assets:	4,431	3,692
Investment in and Advances to Affiliates:	671	543
Capital expenditures	139	121	150
Pork
Segment Information
Sales to External Customers:	1,332	1,717	1,713
Operating Income (Loss):	116	349	148
Income (loss) from affiliates	11	4
Depreciation and amortization	44	46	43
Total Assets:	858	821
Investment in and Advances to Affiliates:	115	80
Capital expenditures	40	54	80
Commodity Trading and Milling
Segment Information
Sales to External Customers:	3,022	3,499	3,501
Operating Income (Loss):	2	54	38
Income (loss) from affiliates	(50)	(24)	(1)
Depreciation and amortization	5	5	6
Total Assets:	988	1,104
Investment in and Advances to Affiliates:	218	178
Capital expenditures	40	21	24
Marine
Segment Information
Sales to External Customers:	940	853	914
Operating Income (Loss):	19	(3)	(26)
Income (loss) from affiliates	2
Depreciation and amortization	26	25	25
Total Assets:	296	283
Investment in and Advances to Affiliates:	19	17
Capital expenditures	43	30	23
Sugar
Segment Information
Sales to External Customers:	188	200	245
Operating Income (Loss):	2	27	24
Income (loss) from affiliates	1	1	1
Depreciation and amortization	8	8	11
Total Assets:	202	198
Investment in and Advances to Affiliates:	3	3
Capital expenditures	15	14	17
Power
Segment Information
Sales to External Customers:	97	189	284
Operating Income (Loss):	7	19	43
Income (loss) from affiliates	3	2	6
Depreciation and amortization	8	8	7
Total Assets:	271	220
Investment in and Advances to Affiliates:	34	20
Capital expenditures	1	2	4
Turkey
Segment Information
Income (loss) from affiliates	103	54	(10)
Total Assets:	448	393
Investment in and Advances to Affiliates:	282	245
All Other
Segment Information
Sales to External Customers:	15	15	13
Operating Income (Loss):	2	1
Total Assets:	6	6
Segment Totals
Segment Information
Operating Income (Loss):	148	447	227
Depreciation and amortization	91	92	92
Total Assets:	3,069	3,025
Capital expenditures	139	121	148
Corporate Items
Segment Information
Operating Income (Loss):	(22)	(23)	(23)
Depreciation and amortization			1
Total Assets:	$ 1,362	$ 667
Capital expenditures			$ 2

Segment Information - Geographi

Segment Information - Geographic Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Geographic Information
Revenue, Net	$ 5,594	$ 6,473	$ 6,670
Long-lived assets	833	848
Caribbean, Central and South America
Geographic Information
Revenue, Net	2,112	2,414	2,572
Africa
Geographic Information
Revenue, Net	1,577	1,661	1,578
United States
Geographic Information
Revenue, Net	1,135	1,397	1,390
Long-lived assets	553	543
Pacific Basin and Far East
Geographic Information
Revenue, Net	357	425	383
Canada/Mexico
Geographic Information
Revenue, Net	242	348	394
Eastern Mediterranean
Geographic Information
Revenue, Net	102	156	186
Europe
Geographic Information
Revenue, Net	69	72	$ 167
Dominican Republic
Geographic Information
Long-lived assets	128	134
Argentina
Geographic Information
Long-lived assets	69	71
All Other
Geographic Information
Long-lived assets	$ 83	$ 100

Segment Information - Geograp59

Segment Information - Geographic Concentration (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Concentration Risk
Sales	$ 5,594	$ 6,473	$ 6,670
South Africa
Concentration Risk
Sales	$ 646	$ 597	$ 561
Sales | Geographic concentration | South Africa
Concentration Risk
Concentration risk (as a percent)	12.00%	9.00%	8.00%
Accounts Receivable | Geographic concentration | Foreign Country
Concentration Risk
Foreign receivables, excluding receivables due from affiliates	$ 275	$ 267

Schedule II Valuation and Qua60

Schedule II Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Allowance for Doubtful Accounts:
Movement in valuation and qualifying accounts
Balance at beginning of year	$ 12	$ 13	$ 12
Provision/ charged (credit) to expense	13		3
Net deductions/ Other	(4)	(1)	(2)
Balance at end of year	21	12	13
Allowance for Deferred Tax Assets:
Movement in valuation and qualifying accounts
Balance at beginning of year	21	18	12
Provision/ charged (credit) to expense	(2)	3	6
Balance at end of year	19	21	18
Reserve for LIFO Valuation:
Movement in valuation and qualifying accounts
Balance at beginning of year	37	62	91
Net deductions/ Other	(9)	(25)	(29)
Balance at end of year	$ 28	$ 37	$ 62