41 Total Liabilities 42 43 Common Stock 44 Additional Paid In Capital 45 Retained Earnings 46 Treasury Stock 47 Comprehensive Inc. and Other 48 Total Common Equity 49 50 Minority Interest 51 2555555 52 Total Equity 53 54 Total Liabilities And Equity 55 56 5,944 15,052 13,263 12,749 17,507 18,465 19,800 20,834 39 42 42 43 45 66 71 2,292 4,257 4,307 4,999 5,748 6,813 (1,021) (1,010) (1,381) (108) (147) (90) 4,355 8,348 (3,093) (45) 4,378 5,781 6,200 74 6,523 9,776 10,670 11,442 12,039 Start pro for (3,674) (2,911) (3,122) (3,285) 16 (130) (140) (147) 6,201 8,890 9,691 9,608 10,541 13,475 14,450 15,205 32 14 15 16 18 33 36 38 6,233 8,904 9,706 9,624 10,559 13,509 14,486 15,242 12,177 23,956 22,969 22,373 28,066 31,974 34,286 36,077 If retained e 57 Balance Sheet (Common Sized, i.e., each account is expressed as a % of total assets for that year) Balance Sheet as of: 58 59 Currency 60 In Millions of the reported currency, except per share items. Average Average Restated across Sep-28-2013 Sep-27-2014 Oct-03-2015 Oct-01-2016 Sep-30-2017 5 years USD USD USD USD USD % 61 ASSETS 62 Cash And Equivalents 9.40% 1.83% 3.00% 1.56% 1.13% 3.38% Average 63 Short Term Investments 64 Total Cash & ST Investments 65 0.01% 0.00% 0.01% 0.02% 0.01% 0.01% % of total 9.41% 1.83% 3.00% 1.58% 1.14% 3.39% assets across 66 Accounts Receivable 12.29% 7.03% 7.05% 6.89% 5.97% 7.85% five 67 Total Receivables 68 12.29% 7.03% 7.05% 6.89% 5.97% 7.85% years 69 Inventory 70 Other Current Assets 23.13% 13.67% 12.53% 12.21% 11.54% 14.62% 1.18% 3.44% 0.84% 1.17% 3.64% 2.05% 71 Total Current Assets 46.02% 25.97% 23.43% 21.85% 22.30% 27.91% 72 73 Gross Property, Plant & Equipment 75.57% 43.33% 47.09% 49.91% 42.55% 51.69% 74 Accumulated Depreciation -42.28% -21.92% -24.55% -26.80% -22.71% -27.65% 75 Net Property, Plant & Equipment 33.28% 21.41% 22.53% 23.11% 19.84% 24.04% 76 77 Long-term Investments 1.76% 0.38% 0.40% 0.42% 0.34% 0.66% 78 Goodwill 15.62% 27.99% 29.03% 29.81% 33.22% 27.13% 79 Other Intangibles 1.13% 22.02% 22.50% 22.72% 22.24% 18.12% 80 Other Long-Term Assets 81 Total Assets 82 2.18% 2.22% 2.11% 2.10% 2.06% 2.13% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 83 LIABILITIES 84 Accounts Payable 85 Accrued Exp. 86 Short-term Borrowings 87 Curr. Port. of LT Debt 11.16% 7.54% 7.24% 6.75% 6.05% 7.75% 3.44% 2.82% 2.92% 3.46% 2.92% 3.11% 2.77% 2.77% 4.21% 2.68% 3.11% 0.35% 0.46% 2.16% 88 Other Current Liabilities 5.90% 2.81% 2.12% 1.77% 2.17% 2.96% 89 Total Current Liabilities 24.72% 15.85% 15.39% 12.35% 14.37% 16.53% 90 91 Long-Term Debt 15.56% 31.45% 26.01% 27.71% 33.13% 26.77% 92 Pension & Other Post-Retire. Benefits 2.22% 2.16% 1.60% 0.92% 1.72% 93 Def. Tax Liability, Non-Curr. 3.93% 10.23% 10.66% 11.38% 10.61% 9.36% 94 Other Non-Current Liabilities 4.60% 3.08% 3.52% 3.95% 3.35% 3.70% 95 Total Liabilities 48.81% 62.83% 57.74% 56.98% 62.38% 57.75% 96 97 Common Stock 98 Additional Paid In Capital 99 Retained Earnings 100 Treasury Stock 101 Comprehensive Inc. and Other 102 Total Common Equity 103 104 Minority Interest 0.32% 0.18% 0.18% 0.19% 0.16% 0.21% 18.82% 17.77% 18.75% 19.47% 15.60% 18.08% 41.05% 23.99% 29.66% 37.31% 34.83% 33.37% -8.38% -4.22% -6.01% -13.82% -13.09% -9.11% -0.89% -0.61% -0.39% -0.20% 0.06% -0.41% 50.92% 37.11% 42.19% 42.94% 37.56% 42.15% 0.26% 0.06% 0.07% 0.07% 0.06% 0.10% 105 106 Total Equity 107 108 Total Liabilities And Equity 109 110 51.19% 37.17% 42.26% 43.02% 37.62% 42.25% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% Restated Sep-27-2014 Oct-03-2015 Oct-01-2016 USD USD USD Sep-30-2017 USD 111 Balance Sheet (Indexed, i.e., each account value expressed as a % of its base (FY 2013) year) Balance Sheet as of: 112 113 Currency 114 In Millions of the reported currency, except per share items. 115 ASSETS 116 Cash And Equivalents 117 Short Term Investments 118 Total Cash & ST Investments 119 120 Accounts Receivable 121 Total Receivables 122 123 Inventory 124 Other Current Assets 125 Total Current Assets Sep-28-2013 USD 100.00% 38.25% 100.00% 100.00% 60.09% 200.00% 30.48% 400.00% 27.77% 300.00% 100.00% 38.31% 60.21% 30.80% 28.01% 100.00% 112.49% 108.22% 103.01% 111.89% 100.00% 112.49% 108.22% 103.01% 111.89% 100.00% 116.22% 102.17% 96.98% 114.98% 100.00% 572.22% 134.03% 181.25% 710.42% 100.00% 111.01% 96.02% 87.22% 111.67% 125 Total Current Assets 100.00% 111.01% 96.02% 87.22% 111.67% 126 127 Gross Property, Plant & Equipment 100.00% 112.81% 117.54% 121.35% 129.78% 128 Accumulated Depreciation 100.00% 101.98% 109.54% 116.47% 123.79% 129 Net Property, Plant & Equipment 100.00% 126.57% 127.71% 127.56% 137.38% 130 131 Long-term Investments 100.00% 42.99% 43.46% 43.46% 44.39% 132 Goodwill 133 Other Intangibles 134 Other Long-Term Assets 135 Total Assets 136 137 LIABILITIES 138 Accounts Payable 139 Accrued Exp. 140 Short-term Borrowings 141 Curr. Port. of LT Debt 100.00% 352.58% 350.53% 350.63% 490.22% 100.00% 3823.19% 3744.93% 3684.06% 4523.91% 100.00% 199.62% 181.95% 176.32% 217.29% 100.00% 196.73% 188.63% 183.73% 230.48% 100.00% 132.89% 122.30% 111.18% 124.94% 100.00% 161.10% 159.90% 184.96% 195.47% 100.00% 125.34% 139.38% 15.40% 24.95% 142 Other Current Liabilities 100.00% 93.60% 67.87% 55.22% 84.70% 143 Total Current Liabilities 100.00% 126.15% 117.44% 91.76% 133.95% 144 145 Long-Term Debt 100.00% 397.63% 315.30% 327.18% 490.61% 146 Pension & Other Post-Retire. Benefits 147 Def. Tax Liability, Non-Curr. 100.00% 511.48% 511.27% 531.32% 621.92% 148 Other Non-Current Liabilities 100.00% 131.79% 144.46% 157.68% 168.04% 149 Total Liabilities 100.00% 253.23% 223.13% 214.49% 294.53% 150 151 Common Stock 100.00% 107.69% 107.69% 110.26% 115.38% 152 Additional Paid In Capital 100.00% 185.73% 187.91% 190.01% 191.01% 153 Retained Earnings 100.00% 114.98% 136.29% 166.99% 195.56% 154 Treasury Stock 100.00% 98.92% 135.26% 302.94% 359.84% 155 Comprehensive Inc. and Other 100.00% 136.11% 83.33% 41.67% -14.81% 156 Total Common Equity 100.00% 143.36% 156.28% 154.94% 169.99% 157 158 Minority Interest 100.00% 43.75% 46.88% 50.00% 56.25% 159 160 Total Equity 100.00% 142.85% 155.72% 154.40% 169.40% 161 162 Total Liabilities And Equity 100.00% 196.73% 188.63% 183.73% 230.48% 163 164 165 166 1 Tyson Foods, Inc. (NYSE:TSN) >Balance Sheet 123 Balance Sheet (as stated) Balance Sheet as of: Currency In Millions of the reported currency, except per share items. 4 5 6 7 ASSETS 8 Cash And Equivalents 9 Short Term Investments 10 Total Cash & ST Investments 11 12 Accounts Receivable 13 Total Receivables 14 Sep-28-2013 Sep-27-2014 Restated Oct-03-2015 Oct-01-2016 USD USD USD USD Pro Forma Balance Sheet 12 months 12 months 12 months Sep-30-2017 USD Sep-30- 2018E USD Sep-30- 2019E USD Sep-30- 2020E USD 1,145 438 688 349 318 1,082 1 1 2 4 3 3 1,160 3 1,221 4 1,146 439 690 353 321 1,085 1,164 1,224 1,497 1,684 1,620 1,542 1,675 2,509 2,691 2,831 1,497 1,684 1,620 1,542 1,675 2,509 2,691 2,831 15 Inventory 16 Other Current Assets 2,817 3,274 2,878 2,732 3,239 4,673 5,011 5,273 144 824 193 261 1,023 657 705 741 17 Total Current Assets 5,604 6,221 5,381 4,888 6,258 8,925 9,570 10,070 18 19 Gross Property, Plant & Equipment 9,202 10,381 10,816 11,167 11,942 16,527 17,723 18,648 20 Accumulated Depreciation (5,149) (5,251) (5,640) (5,997) (6,374) (8,842) (9,482) (9,977) 21 Net Property, Plant & Equipment 4,053 5,130 5,176 5,170 5,568 7,685 8,241 8,671 22 23 Long-term Investments 24 Goodwill 25 Other Intangibles 26 Other Long-Term Assets 27 Total Assets 28 29 LIABILITIES 30 Accounts Payable 31 Accrued Exp. 32 Short-term Borrowings B3 Curr. Port. of LT Debt 34 Other Current Liabilities 214 92 93 93 95 211 226 238 1,902 6,706 6,667 6,669 9,324 8,676 9,303 9,789 138 5,276 5,168 5,084 6,243 5,795 6,214 6,539 266 531 484 469 578 682 731 769 12,177 23,956 22,969 22,373 28,066 31,974 34,286 36,077 1,359 1,806 1,662 1,511 1,698 2,477 2,656 2,795 419 675 670 775 819 995 1,067 1,123 778 886 950 1,000 513 643 715 79 128 692 742 781 719 673 488 397 609 945 1,014 1,067 35 Total Current Liabilities 3,010 3,797 3,535 2,762 4,032 5,287 5,669 5,965 36 37 Long-Term Debt 1,895 7,535 5,975 6,200 9,297 8,560 9,180 9,659 38 Pension & Other Post-Retire. Benefits 532 495 359 258 552 591 622 39 Def. Tax Liability, Non-Curr. 479 2,450 2,449 2,545 2,979 2,994 3,210 3,378 40 Other Non-Current Liabilities 560 738 41 Total Liabilities 5,944 15,052 809 13,263 12,749 883 941 1,183 1,269 1,335 17,507 18,465 19,800 20,834