7 unchanged sentences
The following table presents the fair values of our open derivative financial instruments in the condensed consolidated balance sheets.
−Removed: March 29, 2026 December 28, 2025
+Added: June 28, 2026 December 28, 2025
(in millions)
Livestock $ 11 $ 21
−Removed: Foreign Currency 1 —
−Removed: ________________
−Removed: (1) Negative amount represents net liabilities.
Derivative Financial Instruments” to the condensed consolidated financial statements included in Part I, Item 1 of this Quarterly Report on Form 10-Q for the effects of derivative instruments on our condensed consolidated statements of income.
9 unchanged sentences
The following table presents the sensitivity of the fair value of our open commodity derivative contracts to a hypothetical 10% change in market prices.
−Removed: March 29, 2026 December 28, 2025
+Added: June 28, 2026 December 28, 2025
(in millions)
3 unchanged sentences
The following table presents the fair values and carrying values of our fixed-rate debt.
−Removed: March 29, 2026 December 28, 2025
+Added: June 28, 2026 December 28, 2025
Fair Value Carrying Value Fair Value Carrying Value
4 unchanged sentences
Changes in interest rates impact the fair value of our fixed-rate debt.
−Removed: A hypothetical 10% change in interest rates would impact the fair value of our fixed-rate debt by $28 million as of March 29, 2026 and December 28, 2025.
+Added: A hypothetical 10% change in interest rates would impact the fair value of our fixed-rate debt by $25 million and $28 million as of June 28, 2026 and December 28, 2025, respectively.
We periodically enter into interest rate swaps to hedge our exposure to changes in interest rates on certain financial instruments and to manage the overall mix of fixed rate and floating rate debt instruments.
−Removed: There were no interest rate swaps outstanding as of March 29, 2026 and December 28, 2025.
+Added: There were no interest rate swaps outstanding as of June 28, 2026 and December 28, 2025.
Foreign Currency Exchange Risk
2 unchanged sentences
We employ foreign currency exchange forward contracts to manage the exposure to foreign currency exchange risk.
−Removed: The fair values of foreign currency exchange forward contracts as of March 29, 2026 and December 28, 2025 were not material.
+Added: The fair values of foreign currency exchange forward contracts as of June 28, 2026 and December 28, 2025 were not material.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.