TYSON FOODS INC
For the period ended Jun 28, 2025. Filed Aug 4, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 28, 2025 · Filed Aug 4, 2025
TSN$59.68-0.7%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-03-29; filed 2025-05-05.
0000100493-25-000056
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2025-06-28; filed 2025-08-04.
0000100493-25-000076
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 181 previous paragraphs and 185 current paragraphs.
66 unchanged; 78 reworded; 38 added; 27 removed; 10 previous and 3 current paragraphs rearranged.
Tables are not compared: 20 previous and 21 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (38)
Current report
Sales grew 4%, or $531 million in the third quarter of fiscal 2025, driven by sales growth across each of our segments. Operating income of $260 million for the third quarter of fiscal 2025 was down 24% as compared to the third quarter of fiscal 2024, as we experienced greater operating losses in our Beef segment, partially offset by higher operating income in our Pork, Chicken and Prepared Foods segments. In the third quarter of fiscal 2025, our operating income was impacted by $343 million of goodwill impairment charges, partially offset by $83 million of income, net of charges, related to the Company's network optimization plan and related gain on the sale of storage facilities. In the third quarter of fiscal 2024, our operating income was impacted by $101 million in legal contingency accruals and $41 million in plant closures and disposal charges.
Current report
•Beef – (8.8)%
Current report
•Pork – 2.4%
Current report
•Chicken – 8.7%
Current report
•Prepared Foods – 12.0%
Current report
•Decrease of $83 million related to the network optimization plan as a result of a gain recognized on the sale of storage facilities, net of charges.
Current report
•Decrease of $56 million related to the recognition of a legal contingency accrual in our Chicken segment in fiscal 2024.
Current report
•Increase of $31 million related to the network optimization plan charges.
Current report
•Decrease of $132 million due to lower plant closures and disposal charges.
Current report
•Selling, general and administrative was relatively flat.
Current report
Goodwill Impairment
Current report
•We recorded a $343 million goodwill impairment charge in the Beef segment in the third quarter of fiscal 2025.
Current report
Third quarter and nine months – Fiscal 2025
Current report
Third quarter and nine months – Fiscal 2024
Current report
•The third quarter of fiscal 2025 was higher than the third quarter of fiscal 2024 primarily due to a $343 million non-deductible goodwill impairment, partially offset by the favorable impact of higher foreign income in fiscal 2025.
Current report
•Additionally, the third quarter of fiscal 2024 included a $9 million benefit related to the remeasurement of deferred income taxes, primarily due to legislation decreasing state tax rates enacted in the third quarter of 2024.
Current report
•The effective tax rate for the first nine months of fiscal 2025 was higher than the first nine months of fiscal 2024 due to a $343 million non-deductible goodwill impairment, partially offset by the favorable impact of higher foreign income in fiscal 2025.
Current report
•$343 million pretax, or ($0.96) per diluted share, of goodwill impairment charges (non-tax deductible).
Current report
•$83 million pretax, or $0.18 per diluted share, related to the network optimization plan income, net of charges.
Current report
•$14 million pretax, or $0.04 per diluted share, of insurance proceeds, net of costs, related to a production facility fire in the Netherlands and our subsequent decision to sell the facility.
Current report
•$6 million pretax, or $0.01 per diluted share, related to the relocation of a production facility in China.
Current report
Nine months – Fiscal 2025 –Net income attributable to Tyson included the following items:
Current report
•$343 million pretax, or ($0.96) per diluted share, of goodwill impairment charges (non-tax deductible).
Current report
•$33 million pretax, or ($0.08) per diluted share, related to the network optimization plan charges.
Current report
•$17 million pretax, or ($0.04) per diluted share, of brand discontinuation charges.
Current report
•$14 million pretax, or $0.04 per diluted share, of insurance proceeds, net of costs, related to a production facility fire in the Netherlands and our subsequent decision to sell the facility.
Current report
•$6 million pretax, or $0.01 per diluted share, related to the relocation of a production facility in China.
Current report
•$41 million pretax, or ($0.09) per diluted share, of charges related to plant closures and disposal charges.
Current report
•$5 million pretax, or ($0.01) per diluted share, of production facilities fire costs incurred, net of insurance proceeds.
Current report
•$3 million pretax, or ($0.01) per diluted share, of charges related to a production facility fire in the Netherlands and our subsequent decision to sell the facility.
Current report
Nine months – Fiscal 2024 –Net income attributable to Tyson included the following items:
Current report
•$174 million pretax, or ($0.38) per diluted share, related to the recognition of legal contingency accruals.
Current report
•$155 million pretax, or ($0.31) per diluted share, of charges related to plant closures and disposal charges.
Current report
•$83 million pretax, or ($0.23) per diluted share, of charges related to a production facility fire in the Netherlands and our subsequent decision to sell the facility.
Current report
•Sales– Sales for the third quarter and first nine months of fiscal 2025 decreased primarily due to lower average sales price.
Current report
•A decrease of $228 million due to a decrease in the net changes in other operating assets and liabilities of $13 million in the first nine months of fiscal 2025, compared to an increase of $215 million in the first nine months of 2024, primarily due to performance-based compensation.
Current report
•A decrease of $121 million due to an increase in accounts receivable of $48 million in the first nine months of fiscal 2025, compared to a decrease of $73 million in the first nine months of fiscal 2024 as days sales outstanding decreased more during the first nine months of fiscal 2024 than the first nine months of fiscal 2025.
Current report
•Proceeds from sale of storage facilities for the nine months ended June 28, 2025 related to the sale of multiple Tyson-owned and operated cold storage facilities.
Removed paragraphs (27)
Previous report
Sales were relatively flat in the second quarter and increased 1.2%, or $306 million, in the first six months of fiscal 2025, driven by increased sales in our Beef and Chicken segments, partially offset by decreased sales in our Pork and Prepared Foods segments. Sales were negatively impacted in the second quarter and the first six months by 2.6% and 1.3%, respectively, from the recognition of $343 million of legal contingency accruals. Operating income of $100 million for the second quarter of fiscal 2025 was down 68% as compared to the second quarter of fiscal 2024, as we experienced lower operating income in our Beef and Pork segments, partially offset by higher operating income in our Chicken and Prepared Foods segments and International/Other.
Previous report
Additionally, in the second quarter of fiscal 2025, our operating income was impacted by $343 million of legal contingency accruals, $43 million in network optimization plan charges, $23 million of plant closures and disposal charges and $6 million in brand discontinuation charges. In the second quarter of fiscal 2024, our operating income was impacted by $54 million of costs related to a production facility fire in the Netherlands and our subsequent decision to sell the facility and $39 million of plant closures and disposal charges.
Previous report
•Beef – (5.0)%
Previous report
•Pork – (15.7)%
Previous report
•Chicken – 6.3%
Previous report
•Prepared Foods – 10.2%
Previous report
•Increase of $43 million related to network optimization plan charges.
Previous report
•Decrease of $16 million due to lower plant closures and disposal charges.
Previous report
•Increase of $114 million related to network optimization plan charges.
Previous report
•Decrease of $91 million due to lower plant closures and disposal charges.
Previous report
Second quarter and six months – Fiscal 2025
Previous report
Second quarter and six months – Fiscal 2024
Previous report
•The percentage impacts of items on the effective tax rate were greater in the second quarter of fiscal 2025 due to the level of pretax income in the second quarter of fiscal 2025 compared to the second quarter of fiscal 2024.
Previous report
•The second quarter of fiscal 2025 was increased by the impact of net unfavorable permanent book-to-tax differences and changes in unrecognized tax benefits.
Previous report
•The second quarter of fiscal 2024 was impacted by increased foreign losses for which a tax benefit cannot be recognized.
Previous report
•The effective tax rate for the first six months of fiscal 2025 was increased by changes in unrecognized tax benefits and decreased by the release of a $9 million valuation allowance on certain losses in the Netherlands due to tax legislation enacted in the first quarter of fiscal 2025.
Previous report
•Increased foreign losses in fiscal 2024 resulted in a higher effective tax rate compared to fiscal 2025.
Previous report
•$43 million pretax, or ($0.10) per diluted share, related to network optimization plan charges.
Previous report
Six months – Fiscal 2025 –Net income attributable to Tyson included the following items:
Previous report
•$116 million pretax, or ($0.26) per diluted share, related to network optimization plan charges.
Previous report
•$54 million pretax, or ($0.15) per diluted share, of charges related to a production facility fire in the Netherlands and our subsequent decision to sell the facility.
Previous report
•$39 million pretax, or ($0.06) per diluted share, of plant closures and disposal charges.
Previous report
Six months – Fiscal 2024 –Net income attributable to Tyson included the following items:
Previous report
•$73 million pretax, or ($0.16) per diluted share, related to the recognition of a legal contingency accrual.
Previous report
•$27 million pretax, or $0.06 per diluted share, of production facilities fire insurance proceeds, net of costs incurred.
Previous report
•Sales– Sales for the second quarter and first six months of fiscal 2025 were relatively flat.
Previous report
•A decrease of $98 million due to a decrease in income taxes payable/receivable of $41 million in the first six months of fiscal 2025, compared to an increase of $57 million in the first six months of fiscal 2024, primarily driven by an increase in tax payments as a result of higher taxable income associated with payments made in fiscal 2025 compared to fiscal 2024.
Reworded paragraphs (78)
Previous wording
Operating income of $680 million for the first six months of fiscal 2025 was up 25% compared to the first six months of fiscal 2024 as we experienced higher operating income in our Chicken segment and International/Other, partially offset by lower operating income for our Beef, Pork and Prepared Foods segments. In the first six months of fiscal 2025, our operating income was impacted by $343 million of legal contingency accruals, $116 million in network optimization plan charges, $23 million of plant closures and disposal charges and $12 million in brand discontinuation charges. In the first six months ended March 30, 2024, our operating income was impacted by $114 million of plant closures and disposal charges, $80 million of costs related to a production facility fire in the Netherlands and our subsequent decision to sell the facility, $73 million in legal contingency accruals and $31 million of restructuring and related charges, partially offset by the benefit of $24 million of insurance proceeds, net of costs incurred related to facility fires.
Current wording
Sales grew 2%, or $837 million, in the first nine months of fiscal 2025, driven by increased sales in our Beef, Chicken and Prepared Foods segments, partially offset by decreased sales in our Pork segment. Operating income of $940 million for the first nine months of fiscal 2025 was up 6% compared to the first nine months of fiscal 2024 as we experienced higher operating income in our Chicken and Prepared Foods segments and International/Other, partially offset by lower operating income in our Beef and Pork segments. In the first nine months of fiscal 2025, our operating income was impacted by $343 million of goodwill impairment charges, $343 million of legal contingency accruals, $33 million of charges related to the network optimization plan and $23 million of plant closures and disposal charges. In the first nine months ended June 29, 2024, our operating income was impacted by $174 million in legal contingency accruals, $155 million of plant closure and disposal charges, $83 million of costs related to a production facility fire in the Netherlands and the subsequent decision to sell the facility and $31 million of restructuring and related charges.
Previous wording
According to the United States Department of Agriculture, domestic protein production (beef, pork, chicken and turkey) was flat in the second quarter of fiscal 2025 as compared to the same period in fiscal 2024. The Beef segment continues to experience limited supply of market-ready cattle as well as increased cattle costs. Additionally, uncertainty exists regarding the timing of the anticipated cattle herd rebuilding. The Pork segment experienced sufficient supply of market-ready hogs and increased hog costs. The Chicken segment experienced reduced feed ingredient costs. The Prepared Foods segment is currently experiencing increased raw material costs primarily due to higher meat costs.
Current wording
According to the United States Department of Agriculture, domestic protein production (beef, pork, chicken and turkey) decreased 1% in the third quarter of fiscal 2025 as compared to the same period in fiscal 2024. The Beef segment continues to experience limited supply of market-ready cattle as well as increased cattle costs. Additionally, uncertainty exists regarding the timing of the anticipated cattle herd rebuilding. The Pork segment experienced sufficient supply of market-ready hogs and increased hog costs. The Chicken segment experienced reduced feed ingredient costs in the first nine months of fiscal 2025, but costs began to moderate in the third quarter of fiscal 2025 as compared to the same period in fiscal 2024. The Prepared Foods segment is currently experiencing increased raw material costs primarily due to higher meat costs.
Previous wording
Our total operating margin was 0.8% in the second quarter of fiscal 2025. Operating margins by segment were as follows:
Current wording
Our total operating margin was 1.9% in the third quarter of fiscal 2025. Operating margins by segment were as follows:
Previous wording
In the first quarter of fiscal 2025, the Company initiated a network optimization plan to optimize our global operations and logistics network. We expect to incur costs related to the network optimization plan over a multi-year period. We recognized charges of $43 million and $116 million in the second quarter and first six months of fiscal 2025, respectively, related to the network optimization plan, which primarily included the closure of two facilities in the Prepared Foods segment, a non-harvesting facility closure in the Beef segment and asset write-offs in the Chicken segment and International/Other. All estimated charges related to actions approved through March 29, 2025 have been recognized and included $47 million that have resulted or will result in cash outflows and $69 million of non-cash for the first six months of fiscal 2025. We expect to incur additional charges in the future as additional actions are approved. In April 2025, following a strategic review of our domestic logistics and storage network, the Company approved a plan to execute various long-term cold storage service agreements and the sale of multiple Tyson-owned and operated distribution centers. For further description refer to Part I, Item I, Notes to the Consolidated Condensed Financial Statements, Note 5: Restructuring and Related Charges.
Current wording
In the first quarter of fiscal 2025, the Company initiated a network optimization plan to optimize our global operations and logistics network. We anticipate we will recognize total pretax charges of $84 million related to actions approved through June 28, 2025. We recognized charges of $24 million and $33 million in the third quarter and first nine months of fiscal 2025, respectively, related to the network optimization plan, which primarily included the closure of two facilities in the Prepared Foods segment, a non-harvesting facility closure in the Beef segment, asset write-offs in the Chicken and Prepared Foods segments and International/Other. Additionally, in the third quarter of fiscal 2025, we recognized a $107 million gain from the sale of storage facilities. Approved charges that have been recognized through June 28, 2025 included $51 million that have resulted or will result in cash outflows and $89 million of non-cash charges. We have also received $252 million of proceeds in the first nine months of fiscal 2025 associated with the sale of storage facilities. We expect to incur costs related to the network optimization plan over a multi-year period. We expect to incur additional charges in the future as additional actions are approved. For further description refer to Part I, Item I, Notes to the Consolidated Condensed Financial Statements, Note 5: Restructuring and Related Charges.
Previous wording
•Sales Volume – Volumes were essentially flat, accounting for a $3 million decrease in sales as increased sales volume in our Chicken segment was offset by decreased sales volume in our Beef, Pork and Prepared Foods segments.
Current wording
•Sales Volume – Volumes were relatively flat, accounting for a $9 million change as decreased sales volume in our Beef and Prepared Foods segments, was mostly offset by increased sales volume in our Chicken and Pork segments.
Previous wording
•Average Sales Price – Sales were positively impacted by higher average sales prices, which accounted for an increase of $348 million, driven by increased pricing in our Beef, Pork and Prepared Foods segments, partially offset by lower average sales prices in our Chicken segment.
Current wording
•Average Sales Price – Sales were positively impacted by higher average sales prices, which accounted for an increase of $495 million, driven by increased pricing in our Beef, Chicken and Prepared Foods segments, partially offset by lower average sales prices in our Pork segment.
Previous wording
◦The above changes in average sales price exclude a $343 million reduction of Sales for the recognition of legal contingency accruals recorded in the second quarter of fiscal 2025.
Current wording
◦The above changes in average sales price exclude a $45 million reduction of Sales for the recognition of a legal contingency accrual recorded in the third quarter of fiscal 2024.
Previous wording
•Sales Volume – Sales were positively impacted by an increase in sales volume, which accounted for a $205 million increase in sales driven by increased sales volume in our Beef and Chicken segments, partially offset by decreased sales volume in our Pork and Prepared Foods segments.
Current wording
•Sales Volume – Sales were positively impacted by an increase in sales volume, which accounted for a $196 million increase in sales driven by increased sales volume in our Chicken and Beef segments, partially offset by decreased sales volume in our Pork and Prepared Foods segments.
Previous wording
•Average Sales Price – Sales were positively impacted by higher average sales prices, which accounted for an increase of $444 million, driven by increased pricing in our Beef, Pork and Prepared Foods segments, partially offset by lower average sales prices in our Chicken segment.
Current wording
•Average Sales Price – Sales were positively impacted by higher average sales prices, which accounted for an increase of $939 million, driven by increased pricing in our Beef, Pork and Prepared Foods segments, while pricing in our Chicken segment was flat.
Previous wording
◦The above changes in average sales price exclude a $343 million reduction of Sales from the recognition of legal contingency accruals recorded in the second quarter of fiscal 2025.
Current wording
◦The above changes in average sales price exclude a $343 million and $45 million reduction of Sales from the recognition of legal contingency accruals for the nine months ended June 28, 2025 and June 29, 2024, respectively.
Previous wording
•Cost of sales increased $268 million. Lower sales volume decreased cost of sales $3 million while higher input cost per pound increased cost of sales by $271 million.
Current wording
•Cost of sales increased $268 million. Lower sales volume decreased cost of sales $8 million while higher input cost per pound increased cost of sales by $276 million.
Previous wording
•The $271 million impact of higher input cost per pound was impacted by:
Current wording
•The $276 million impact of higher input cost per pound was impacted by:
Previous wording
•Increase in cattle costs of approximately $470 million in our Beef segment.
Current wording
•Increase in cattle costs of approximately $560 million in our Beef segment.
Previous wording
•Increase in raw material and other input costs of approximately $80 million in our Prepared Foods segment.
Current wording
•Increase in raw material and other input costs of approximately $60 million in our Prepared Foods segment.
Previous wording
•Decrease due to net derivative losses of $24 million in the second quarter of fiscal 2025, compared to net derivative losses of $46 million in the second quarter of fiscal 2024 due to our risk management activities. These amounts exclude offsetting impacts from related physical purchase transactions, which are included in the change in live cattle and hog costs and raw material and feed ingredient costs described herein.
Current wording
•Increase due to net derivative losses of $19 million in the third quarter of fiscal 2025, compared to net derivative gains of $6 million in the third quarter of fiscal 2024 due to our risk management activities. These amounts exclude offsetting impacts from related physical purchase transactions, which are included in the change in live cattle and hog costs and raw material and feed ingredient costs described herein.
Previous wording
•Increase in hog costs of approximately $100 million in our Pork segment.
Current wording
•Increase in hog costs of approximately $15 million in our Pork segment.
Previous wording
•Decrease of $41 million in marketing, advertising and promotion expenses.
Current wording
•Decrease of $41 million due to lower plant closures and disposal charges.
Previous wording
•Decrease of approximately $110 million in our Chicken segment related to decreased feed ingredient costs.
Current wording
•Decrease of approximately $20 million in our Chicken segment related to decreased feed ingredient costs.
Previous wording
•Decrease of $54 million in International/Other from costs recognized in fiscal 2024 related to a production facility fire in the Netherlands and the subsequent decision to sell the facility.
Current wording
•Decrease of $17 million in International/Other from lower net costs related to a production facility fire in the Netherlands and the subsequent decision to sell the facility.
Previous wording
•Cost of sales increased $300 million. Higher sales volume increased cost of sales by $192 million while higher input cost per pound increased cost of sales by $108 million.
Current wording
•Cost of sales increased $568 million. Higher sales volume increased cost of sales by $184 million while higher input cost per pound increased cost of sales by $384 million.
Previous wording
•The $108 million impact of higher input cost per pound was impacted by:
Current wording
•The $384 million impact of higher input cost per pound was impacted by:
Previous wording
•Increase in cattle costs of approximately $510 million in our Beef segment.
Current wording
•Increase in cattle costs of approximately $1,070 million in our Beef segment.
Previous wording
•Increase in raw material and other input costs of approximately $160 million in our Prepared Foods segment.
Current wording
•Increase in raw material and other input costs of approximately $220 million in our Prepared Foods segment.
Previous wording
•Increase in hog costs of approximately $160 million in our Pork segment.
Current wording
•Increase in hog costs of approximately $175 million in our Pork segment.
Previous wording
•Increase of $24 million in our Chicken segment from reduced insurance proceeds, net of costs, related to a production facility fire in the fourth quarter of fiscal 2021.
Current wording
•Increase of $19 million in our Chicken segment from reduced insurance proceeds, net of costs, related to a production facility fire in the fourth quarter of fiscal 2021.
Previous wording
•Decrease of approximately $265 million in our Chicken segment related to decreased feed ingredient costs.
Current wording
•Decrease of approximately $285 million in our Chicken segment related to decreased feed ingredient costs.
Previous wording
•Decrease of $73 million related to the recognition of legal contingency accruals in our Beef and Pork segments in fiscal 2024.
Current wording
•Decrease of $129 million related to the recognition of legal contingency accruals in our Beef, Pork and Chicken segments in fiscal 2024.
Previous wording
•Decrease in freight and transportation costs of approximately $70 million.
Current wording
•Decrease in freight and transportation costs of approximately $100 million.
Previous wording
•Decrease of $80 million in International/Other from costs recognized in fiscal 2024 related to a production facility fire in the Netherlands and the subsequent decision to sell the facility.
Current wording
•Decrease of $97 million in International/Other from lower net costs related to a production facility fire in the Netherlands and the subsequent decision to sell the facility.
Previous wording
•Decrease of $54 million in selling, general and administrative was primarily driven by:
Current wording
•Decrease of $130 million in selling, general and administrative was primarily driven by:
Previous wording
•Decrease of $17 million in employee costs primarily from performance-based compensation.
Current wording
•Decrease of $36 million in employee costs primarily from performance-based compensation.
Previous wording
•Decrease of $17 million in professional fees.
Current wording
•Decrease of $35 million in professional fees.
Previous wording
•Decrease of $18 million in marketing, advertising and promotion expenses.
Current wording
•Decrease of $33 million in marketing, advertising and promotion expenses.
Previous wording
•The increase in interest income for the second quarter and six months ended March 29, 2025 was primarily due to higher cash and cash equivalents held during the quarter.
Current wording
•The decrease in interest income for the third quarter and nine months ended June 28, 2025 was primarily due to average lower cash and cash equivalents held.
Previous wording
•The increase in interest expense for the six months ended March 29, 2025 was primarily due to interest expense related to our 5.40% 2029 Notes and 5.70% 2034 Notes, partially offset by lower interest expense related to the repayment of the term loan due May 2026 in the second quarter of fiscal 2025 and the repayment of the August 2024 senior notes in the fourth quarter of fiscal 2024.
Current wording
•The decrease in interest expense for the three and nine months ended June 28, 2025 was primarily due to lower interest expense related to the repayment of the term loan due May 2026 in the second quarter of fiscal 2025 and the repayment of the August 2024 senior notes in the fourth quarter of fiscal 2024.
Previous wording
•Included $15 million of joint venture earnings and $6 million of foreign exchange gains in the second quarter of fiscal 2025. Included $27 million of joint venture earnings and $7 million of production facilities fire insurance proceeds, partially offset by $18 million of foreign exchange losses in the first six months of fiscal 2025.
Current wording
•Included $23 million of joint venture earnings and $11 million of foreign exchange gains in the third quarter of fiscal 2025. Included $50 million of joint venture earnings and $7 million of production facilities fire insurance proceeds, partially offset by $7 million of foreign exchange losses in the first nine months of fiscal 2025.
Previous wording
•Included $15 million of foreign exchange losses in the second quarter of fiscal 2024. Included $10 million of income related to an amendment of a postretirement benefit plan in the first six months of fiscal 2024.
Current wording
•Included $19 million and $22 million of joint venture earnings in the third quarter and the first nine months of fiscal 2024, respectively, offset by $9 million and $4 million of foreign exchange losses in the third quarter and the first nine months of fiscal 2024, respectively. Additionally, included $14 million of income related to an amendment of a postretirement benefit plan in the first nine months of fiscal 2024.
Previous wording
Second quarter – Fiscal 2025 –Net income attributable to Tyson included the following items:
Current wording
Third quarter – Fiscal 2025 –Net income attributable to Tyson included the following items:
Previous wording
•$6 million pretax, or ($0.02) per diluted share, of brand discontinuation charges.
Current wording
•$5 million pretax, or ($0.01) per diluted share, of brand discontinuation charges.
Previous wording
•$114 million pretax, or ($0.22) per diluted share, of plant closures and disposal charges.
Current wording
•$101 million pretax, or ($0.22) per diluted share, related to the recognition of legal contingency accruals.
Showing the first 40 of 78 pairs. Open the source sections for the rest.
Rearranged current paragraphs (3)
Current report — wording carried from elsewhere
Third quarter – Fiscal 2024 –Net income attributable to Tyson included the following items:
Current report — wording carried from elsewhere
•$22 million pretax, or $0.05 per diluted share, of production facilities fire insurance proceeds, net of costs incurred.
Current report — wording carried from elsewhere
We consider reporting units and indefinite life intangible assets that have 20% or less excess fair value over carrying amount to have a heightened risk of impairment. During fiscal 2024, we determined the following reporting units and indefinite life intangible asset were considered at heightened risk of impairment: our Chicken segment reporting units and our Beef reporting unit with goodwill totaling $3.0 billion and $0.3 billion, respectively, and one Prepared Foods brand with a carrying value of $0.5 billion, with our Beef reporting unit having less than 10% of excess fair value above carrying value.
Rearranged previous paragraphs (10)
Previous report — wording carried elsewhere
•Decrease due to net derivative losses of $31 million in the first six months of fiscal 2025, compared to net derivative losses of $51 million in the first six months of fiscal 2024 due to our risk management activities. These amounts exclude offsetting impacts from related physical purchase transactions, which are included in the change in live cattle and hog costs and raw material and feed ingredient costs described herein.
Previous report — wording carried elsewhere
•Decrease of $131 million in selling, general and administrative was primarily driven by:
Previous report — wording carried elsewhere
•Decrease of $35 million in employee costs primarily from performance-based compensation.
Previous report — wording carried elsewhere
•Decrease of $22 million in professional fees.
Previous report — wording carried elsewhere
•$343 million pretax, or ($0.73) per diluted share, related to the recognition of legal contingency accruals.
Previous report — wording carried elsewhere
•$23 million pretax, or ($0.05) per diluted share, of plant closures and disposal charges.
Previous report — wording carried elsewhere
•$12 million pretax, or ($0.03) per diluted share, of brand discontinuation charges.
Previous report — wording carried elsewhere
Second quarter – Fiscal 2024 –Net income attributable to Tyson included the following items:
Previous report — wording carried elsewhere
•$80 million pretax, or ($0.22) per diluted share, of charges related to a production facility fire in the Netherlands and our subsequent decision to sell the facility.
Previous report — wording carried elsewhere
In April 2025, subsequent to the end of our second quarter of fiscal 2025, we increased the aggregate maximum principal amount to $1.75 billion in conjunction with the execution of the new revolving credit facility. Our ability to access commercial paper in the future may be limited or its costs increased.