v3.25.3

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 28, 2025	Dec. 29, 2024
Current assets:
Cash and cash equivalents	$ 773	$ 943
Accounts receivable, net	1,040	558
Inventories, net	2,468	2,412
Prepaid expenses and other current assets	313	290
Total current assets	4,594	4,202
Property, plant and equipment, net	3,191	3,176
Goodwill	1,621	1,613
Intangible assets, net	1,260	1,266
Operating lease assets	381	335
Equity method investments	202	202
Other assets	273	260
Total assets	11,523	11,054
Current liabilities:
Accounts payable	597	777
Current portion of long-term debt and finance lease obligations	3	3
Current portion of operating lease obligations	69	56
Accrued expenses and other current liabilities	811	871
Total current liabilities	1,480	1,706
Long-term debt and finance lease obligations	2,001	1,999
Long-term operating lease obligations	318	286
Deferred income taxes, net	581	518
Net long-term pension obligation	215	279
Other liabilities	204	208
Redeemable noncontrolling interests	257	225
Commitments and contingencies (Note 21)
Shareholders’ equity:
Preferred stock, no par value; 100,000,000 shares authorized; no shares issued and outstanding	0	0
Common stock, no par value; 5,000,000,000 shares authorized; 393,112,711 shares issued and outstanding as of September 28, 2025 and 380,069,232 shares issued and outstanding as of December 29, 2024	0	0
Additional paid-in capital	3,333	3,102
Retained earnings	3,548	3,184
Accumulated other comprehensive loss	(414)	(452)
Total shareholders’ equity	6,466	5,834
Total liabilities and equity	$ 11,523	$ 11,054

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

SMITHFIELD FOODS INC 10-Q