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In addition to other settlements that occurred during 2023, Seaboard entered into an agreement with an insurance company to purchase a group annuity contract for a select group of retirees in Seaboard’s qualified pension plans and as a result, t he benefit obligation and related assets decreased $ 34 million. The accumulated benefit obligation for Seaboard’s defined benefit pension plans was $ 216 million and $ 247 million as of December 31, 2023 and 2022, respectively. The accumulated benefit obligation for Seaboard’s defined benefit pension plans in excess of plan assets was $ 118 million and $ 130 million as of December 31, 2023 and 2022, respectively. Expected future benefit payments for the qualified and nonqualified plans during each of the next five years and the next five years thereafter were as follows: $ 29 million, $ 10 million, $ 15 million, $ 12 million, $ 15 million and $ 72 million, respectively. | text | 118 | monetaryItemType | text: <entity> 118 </entity> <entity type> monetaryItemType </entity type> <context> In addition to other settlements that occurred during 2023, Seaboard entered into an agreement with an insurance company to purchase a group annuity contract for a select group of retirees in Seaboard’s qualified pension plans and as a result, t he benefit obligation and related assets decreased $ 34 million. The accumulated benefit obligation for Seaboard’s defined benefit pension plans was $ 216 million and $ 247 million as of December 31, 2023 and 2022, respectively. The accumulated benefit obligation for Seaboard’s defined benefit pension plans in excess of plan assets was $ 118 million and $ 130 million as of December 31, 2023 and 2022, respectively. Expected future benefit payments for the qualified and nonqualified plans during each of the next five years and the next five years thereafter were as follows: $ 29 million, $ 10 million, $ 15 million, $ 12 million, $ 15 million and $ 72 million, respectively. </context> | us-gaap:DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateAccumulatedBenefitObligation |
In addition to other settlements that occurred during 2023, Seaboard entered into an agreement with an insurance company to purchase a group annuity contract for a select group of retirees in Seaboard’s qualified pension plans and as a result, t he benefit obligation and related assets decreased $ 34 million. The accumulated benefit obligation for Seaboard’s defined benefit pension plans was $ 216 million and $ 247 million as of December 31, 2023 and 2022, respectively. The accumulated benefit obligation for Seaboard’s defined benefit pension plans in excess of plan assets was $ 118 million and $ 130 million as of December 31, 2023 and 2022, respectively. Expected future benefit payments for the qualified and nonqualified plans during each of the next five years and the next five years thereafter were as follows: $ 29 million, $ 10 million, $ 15 million, $ 12 million, $ 15 million and $ 72 million, respectively. | text | 130 | monetaryItemType | text: <entity> 130 </entity> <entity type> monetaryItemType </entity type> <context> In addition to other settlements that occurred during 2023, Seaboard entered into an agreement with an insurance company to purchase a group annuity contract for a select group of retirees in Seaboard’s qualified pension plans and as a result, t he benefit obligation and related assets decreased $ 34 million. The accumulated benefit obligation for Seaboard’s defined benefit pension plans was $ 216 million and $ 247 million as of December 31, 2023 and 2022, respectively. The accumulated benefit obligation for Seaboard’s defined benefit pension plans in excess of plan assets was $ 118 million and $ 130 million as of December 31, 2023 and 2022, respectively. Expected future benefit payments for the qualified and nonqualified plans during each of the next five years and the next five years thereafter were as follows: $ 29 million, $ 10 million, $ 15 million, $ 12 million, $ 15 million and $ 72 million, respectively. </context> | us-gaap:DefinedBenefitPlanPensionPlansWithAccumulatedBenefitObligationsInExcessOfPlanAssetsAggregateAccumulatedBenefitObligation |
In addition to other settlements that occurred during 2023, Seaboard entered into an agreement with an insurance company to purchase a group annuity contract for a select group of retirees in Seaboard’s qualified pension plans and as a result, t he benefit obligation and related assets decreased $ 34 million. The accumulated benefit obligation for Seaboard’s defined benefit pension plans was $ 216 million and $ 247 million as of December 31, 2023 and 2022, respectively. The accumulated benefit obligation for Seaboard’s defined benefit pension plans in excess of plan assets was $ 118 million and $ 130 million as of December 31, 2023 and 2022, respectively. Expected future benefit payments for the qualified and nonqualified plans during each of the next five years and the next five years thereafter were as follows: $ 29 million, $ 10 million, $ 15 million, $ 12 million, $ 15 million and $ 72 million, respectively. | text | 29 | monetaryItemType | text: <entity> 29 </entity> <entity type> monetaryItemType </entity type> <context> In addition to other settlements that occurred during 2023, Seaboard entered into an agreement with an insurance company to purchase a group annuity contract for a select group of retirees in Seaboard’s qualified pension plans and as a result, t he benefit obligation and related assets decreased $ 34 million. The accumulated benefit obligation for Seaboard’s defined benefit pension plans was $ 216 million and $ 247 million as of December 31, 2023 and 2022, respectively. The accumulated benefit obligation for Seaboard’s defined benefit pension plans in excess of plan assets was $ 118 million and $ 130 million as of December 31, 2023 and 2022, respectively. Expected future benefit payments for the qualified and nonqualified plans during each of the next five years and the next five years thereafter were as follows: $ 29 million, $ 10 million, $ 15 million, $ 12 million, $ 15 million and $ 72 million, respectively. </context> | us-gaap:DefinedBenefitPlanExpectedFutureBenefitPaymentsNextTwelveMonths |
In addition to other settlements that occurred during 2023, Seaboard entered into an agreement with an insurance company to purchase a group annuity contract for a select group of retirees in Seaboard’s qualified pension plans and as a result, t he benefit obligation and related assets decreased $ 34 million. The accumulated benefit obligation for Seaboard’s defined benefit pension plans was $ 216 million and $ 247 million as of December 31, 2023 and 2022, respectively. The accumulated benefit obligation for Seaboard’s defined benefit pension plans in excess of plan assets was $ 118 million and $ 130 million as of December 31, 2023 and 2022, respectively. Expected future benefit payments for the qualified and nonqualified plans during each of the next five years and the next five years thereafter were as follows: $ 29 million, $ 10 million, $ 15 million, $ 12 million, $ 15 million and $ 72 million, respectively. | text | 10 | monetaryItemType | text: <entity> 10 </entity> <entity type> monetaryItemType </entity type> <context> In addition to other settlements that occurred during 2023, Seaboard entered into an agreement with an insurance company to purchase a group annuity contract for a select group of retirees in Seaboard’s qualified pension plans and as a result, t he benefit obligation and related assets decreased $ 34 million. The accumulated benefit obligation for Seaboard’s defined benefit pension plans was $ 216 million and $ 247 million as of December 31, 2023 and 2022, respectively. The accumulated benefit obligation for Seaboard’s defined benefit pension plans in excess of plan assets was $ 118 million and $ 130 million as of December 31, 2023 and 2022, respectively. Expected future benefit payments for the qualified and nonqualified plans during each of the next five years and the next five years thereafter were as follows: $ 29 million, $ 10 million, $ 15 million, $ 12 million, $ 15 million and $ 72 million, respectively. </context> | us-gaap:DefinedBenefitPlanExpectedFutureBenefitPaymentsYearTwo |
In addition to other settlements that occurred during 2023, Seaboard entered into an agreement with an insurance company to purchase a group annuity contract for a select group of retirees in Seaboard’s qualified pension plans and as a result, t he benefit obligation and related assets decreased $ 34 million. The accumulated benefit obligation for Seaboard’s defined benefit pension plans was $ 216 million and $ 247 million as of December 31, 2023 and 2022, respectively. The accumulated benefit obligation for Seaboard’s defined benefit pension plans in excess of plan assets was $ 118 million and $ 130 million as of December 31, 2023 and 2022, respectively. Expected future benefit payments for the qualified and nonqualified plans during each of the next five years and the next five years thereafter were as follows: $ 29 million, $ 10 million, $ 15 million, $ 12 million, $ 15 million and $ 72 million, respectively. | text | 15 | monetaryItemType | text: <entity> 15 </entity> <entity type> monetaryItemType </entity type> <context> In addition to other settlements that occurred during 2023, Seaboard entered into an agreement with an insurance company to purchase a group annuity contract for a select group of retirees in Seaboard’s qualified pension plans and as a result, t he benefit obligation and related assets decreased $ 34 million. The accumulated benefit obligation for Seaboard’s defined benefit pension plans was $ 216 million and $ 247 million as of December 31, 2023 and 2022, respectively. The accumulated benefit obligation for Seaboard’s defined benefit pension plans in excess of plan assets was $ 118 million and $ 130 million as of December 31, 2023 and 2022, respectively. Expected future benefit payments for the qualified and nonqualified plans during each of the next five years and the next five years thereafter were as follows: $ 29 million, $ 10 million, $ 15 million, $ 12 million, $ 15 million and $ 72 million, respectively. </context> | us-gaap:DefinedBenefitPlanExpectedFutureBenefitPaymentsYearThree |
In addition to other settlements that occurred during 2023, Seaboard entered into an agreement with an insurance company to purchase a group annuity contract for a select group of retirees in Seaboard’s qualified pension plans and as a result, t he benefit obligation and related assets decreased $ 34 million. The accumulated benefit obligation for Seaboard’s defined benefit pension plans was $ 216 million and $ 247 million as of December 31, 2023 and 2022, respectively. The accumulated benefit obligation for Seaboard’s defined benefit pension plans in excess of plan assets was $ 118 million and $ 130 million as of December 31, 2023 and 2022, respectively. Expected future benefit payments for the qualified and nonqualified plans during each of the next five years and the next five years thereafter were as follows: $ 29 million, $ 10 million, $ 15 million, $ 12 million, $ 15 million and $ 72 million, respectively. | text | 12 | monetaryItemType | text: <entity> 12 </entity> <entity type> monetaryItemType </entity type> <context> In addition to other settlements that occurred during 2023, Seaboard entered into an agreement with an insurance company to purchase a group annuity contract for a select group of retirees in Seaboard’s qualified pension plans and as a result, t he benefit obligation and related assets decreased $ 34 million. The accumulated benefit obligation for Seaboard’s defined benefit pension plans was $ 216 million and $ 247 million as of December 31, 2023 and 2022, respectively. The accumulated benefit obligation for Seaboard’s defined benefit pension plans in excess of plan assets was $ 118 million and $ 130 million as of December 31, 2023 and 2022, respectively. Expected future benefit payments for the qualified and nonqualified plans during each of the next five years and the next five years thereafter were as follows: $ 29 million, $ 10 million, $ 15 million, $ 12 million, $ 15 million and $ 72 million, respectively. </context> | us-gaap:DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFour |
In addition to other settlements that occurred during 2023, Seaboard entered into an agreement with an insurance company to purchase a group annuity contract for a select group of retirees in Seaboard’s qualified pension plans and as a result, t he benefit obligation and related assets decreased $ 34 million. The accumulated benefit obligation for Seaboard’s defined benefit pension plans was $ 216 million and $ 247 million as of December 31, 2023 and 2022, respectively. The accumulated benefit obligation for Seaboard’s defined benefit pension plans in excess of plan assets was $ 118 million and $ 130 million as of December 31, 2023 and 2022, respectively. Expected future benefit payments for the qualified and nonqualified plans during each of the next five years and the next five years thereafter were as follows: $ 29 million, $ 10 million, $ 15 million, $ 12 million, $ 15 million and $ 72 million, respectively. | text | 15 | monetaryItemType | text: <entity> 15 </entity> <entity type> monetaryItemType </entity type> <context> In addition to other settlements that occurred during 2023, Seaboard entered into an agreement with an insurance company to purchase a group annuity contract for a select group of retirees in Seaboard’s qualified pension plans and as a result, t he benefit obligation and related assets decreased $ 34 million. The accumulated benefit obligation for Seaboard’s defined benefit pension plans was $ 216 million and $ 247 million as of December 31, 2023 and 2022, respectively. The accumulated benefit obligation for Seaboard’s defined benefit pension plans in excess of plan assets was $ 118 million and $ 130 million as of December 31, 2023 and 2022, respectively. Expected future benefit payments for the qualified and nonqualified plans during each of the next five years and the next five years thereafter were as follows: $ 29 million, $ 10 million, $ 15 million, $ 12 million, $ 15 million and $ 72 million, respectively. </context> | us-gaap:DefinedBenefitPlanExpectedFutureBenefitPaymentsYearFive |
In addition to other settlements that occurred during 2023, Seaboard entered into an agreement with an insurance company to purchase a group annuity contract for a select group of retirees in Seaboard’s qualified pension plans and as a result, t he benefit obligation and related assets decreased $ 34 million. The accumulated benefit obligation for Seaboard’s defined benefit pension plans was $ 216 million and $ 247 million as of December 31, 2023 and 2022, respectively. The accumulated benefit obligation for Seaboard’s defined benefit pension plans in excess of plan assets was $ 118 million and $ 130 million as of December 31, 2023 and 2022, respectively. Expected future benefit payments for the qualified and nonqualified plans during each of the next five years and the next five years thereafter were as follows: $ 29 million, $ 10 million, $ 15 million, $ 12 million, $ 15 million and $ 72 million, respectively. | text | 72 | monetaryItemType | text: <entity> 72 </entity> <entity type> monetaryItemType </entity type> <context> In addition to other settlements that occurred during 2023, Seaboard entered into an agreement with an insurance company to purchase a group annuity contract for a select group of retirees in Seaboard’s qualified pension plans and as a result, t he benefit obligation and related assets decreased $ 34 million. The accumulated benefit obligation for Seaboard’s defined benefit pension plans was $ 216 million and $ 247 million as of December 31, 2023 and 2022, respectively. The accumulated benefit obligation for Seaboard’s defined benefit pension plans in excess of plan assets was $ 118 million and $ 130 million as of December 31, 2023 and 2022, respectively. Expected future benefit payments for the qualified and nonqualified plans during each of the next five years and the next five years thereafter were as follows: $ 29 million, $ 10 million, $ 15 million, $ 12 million, $ 15 million and $ 72 million, respectively. </context> | us-gaap:DefinedBenefitPlanExpectedFutureBenefitPaymentsFiveFiscalYearsThereafter |
The amounts not reflected in net periodic benefit cost and included in accumulated other comprehensive loss before taxes as of December 31, 2023 and 2022 were $ 2 million and $ 21 million, respectively. Such amounts primarily represent the cumulative unrecognized net actuarial gains and losses that are generally amortized over the average remaining working lifetime of the active participants for all of these plans. | text | 2 | monetaryItemType | text: <entity> 2 </entity> <entity type> monetaryItemType </entity type> <context> The amounts not reflected in net periodic benefit cost and included in accumulated other comprehensive loss before taxes as of December 31, 2023 and 2022 were $ 2 million and $ 21 million, respectively. Such amounts primarily represent the cumulative unrecognized net actuarial gains and losses that are generally amortized over the average remaining working lifetime of the active participants for all of these plans. </context> | us-gaap:DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTax |
The amounts not reflected in net periodic benefit cost and included in accumulated other comprehensive loss before taxes as of December 31, 2023 and 2022 were $ 2 million and $ 21 million, respectively. Such amounts primarily represent the cumulative unrecognized net actuarial gains and losses that are generally amortized over the average remaining working lifetime of the active participants for all of these plans. | text | 21 | monetaryItemType | text: <entity> 21 </entity> <entity type> monetaryItemType </entity type> <context> The amounts not reflected in net periodic benefit cost and included in accumulated other comprehensive loss before taxes as of December 31, 2023 and 2022 were $ 2 million and $ 21 million, respectively. Such amounts primarily represent the cumulative unrecognized net actuarial gains and losses that are generally amortized over the average remaining working lifetime of the active participants for all of these plans. </context> | us-gaap:DefinedBenefitPlanAccumulatedOtherComprehensiveIncomeBeforeTax |
Seaboard has defined contribution retirement programs for various groups of employees. Contribution expense for these programs was $ 9 million, $ 9 million and $ 4 million for the years ended December 31, 2023, 2022 and 2021, respectively. The increased cost in 2023 and 2022 was primarily due to match changes for a production plan and an increase in the rate of matching contributions for another plan. | text | 9 | monetaryItemType | text: <entity> 9 </entity> <entity type> monetaryItemType </entity type> <context> Seaboard has defined contribution retirement programs for various groups of employees. Contribution expense for these programs was $ 9 million, $ 9 million and $ 4 million for the years ended December 31, 2023, 2022 and 2021, respectively. The increased cost in 2023 and 2022 was primarily due to match changes for a production plan and an increase in the rate of matching contributions for another plan. </context> | us-gaap:DefinedContributionPlanCostRecognized |
Seaboard has defined contribution retirement programs for various groups of employees. Contribution expense for these programs was $ 9 million, $ 9 million and $ 4 million for the years ended December 31, 2023, 2022 and 2021, respectively. The increased cost in 2023 and 2022 was primarily due to match changes for a production plan and an increase in the rate of matching contributions for another plan. | text | 4 | monetaryItemType | text: <entity> 4 </entity> <entity type> monetaryItemType </entity type> <context> Seaboard has defined contribution retirement programs for various groups of employees. Contribution expense for these programs was $ 9 million, $ 9 million and $ 4 million for the years ended December 31, 2023, 2022 and 2021, respectively. The increased cost in 2023 and 2022 was primarily due to match changes for a production plan and an increase in the rate of matching contributions for another plan. </context> | us-gaap:DefinedContributionPlanCostRecognized |
Seaboard purchases investments that are classified as trading securities and included in other current assets, and recognizes the amount payable to employees in other current liabilities on the consolidated balance sheets. Investments for Seaboard’s deferred compensation plans were $ 22 million and $ 26 million as of December 31, 2023 and 2022, respectively. The amount payable to employees was $ 19 million and $ 23 million as of December 31, 2023 and 2022, respectively. Deferred compensation plan costs recognized in selling, general and administrative expenses are offset by the effect of the marked-to-market adjustments on investments recorded in other investment income (loss). | text | 22 | monetaryItemType | text: <entity> 22 </entity> <entity type> monetaryItemType </entity type> <context> Seaboard purchases investments that are classified as trading securities and included in other current assets, and recognizes the amount payable to employees in other current liabilities on the consolidated balance sheets. Investments for Seaboard’s deferred compensation plans were $ 22 million and $ 26 million as of December 31, 2023 and 2022, respectively. The amount payable to employees was $ 19 million and $ 23 million as of December 31, 2023 and 2022, respectively. Deferred compensation plan costs recognized in selling, general and administrative expenses are offset by the effect of the marked-to-market adjustments on investments recorded in other investment income (loss). </context> | us-gaap:DeferredCompensationPlanAssets |
Seaboard purchases investments that are classified as trading securities and included in other current assets, and recognizes the amount payable to employees in other current liabilities on the consolidated balance sheets. Investments for Seaboard’s deferred compensation plans were $ 22 million and $ 26 million as of December 31, 2023 and 2022, respectively. The amount payable to employees was $ 19 million and $ 23 million as of December 31, 2023 and 2022, respectively. Deferred compensation plan costs recognized in selling, general and administrative expenses are offset by the effect of the marked-to-market adjustments on investments recorded in other investment income (loss). | text | 26 | monetaryItemType | text: <entity> 26 </entity> <entity type> monetaryItemType </entity type> <context> Seaboard purchases investments that are classified as trading securities and included in other current assets, and recognizes the amount payable to employees in other current liabilities on the consolidated balance sheets. Investments for Seaboard’s deferred compensation plans were $ 22 million and $ 26 million as of December 31, 2023 and 2022, respectively. The amount payable to employees was $ 19 million and $ 23 million as of December 31, 2023 and 2022, respectively. Deferred compensation plan costs recognized in selling, general and administrative expenses are offset by the effect of the marked-to-market adjustments on investments recorded in other investment income (loss). </context> | us-gaap:DeferredCompensationPlanAssets |
Seaboard purchases investments that are classified as trading securities and included in other current assets, and recognizes the amount payable to employees in other current liabilities on the consolidated balance sheets. Investments for Seaboard’s deferred compensation plans were $ 22 million and $ 26 million as of December 31, 2023 and 2022, respectively. The amount payable to employees was $ 19 million and $ 23 million as of December 31, 2023 and 2022, respectively. Deferred compensation plan costs recognized in selling, general and administrative expenses are offset by the effect of the marked-to-market adjustments on investments recorded in other investment income (loss). | text | 19 | monetaryItemType | text: <entity> 19 </entity> <entity type> monetaryItemType </entity type> <context> Seaboard purchases investments that are classified as trading securities and included in other current assets, and recognizes the amount payable to employees in other current liabilities on the consolidated balance sheets. Investments for Seaboard’s deferred compensation plans were $ 22 million and $ 26 million as of December 31, 2023 and 2022, respectively. The amount payable to employees was $ 19 million and $ 23 million as of December 31, 2023 and 2022, respectively. Deferred compensation plan costs recognized in selling, general and administrative expenses are offset by the effect of the marked-to-market adjustments on investments recorded in other investment income (loss). </context> | us-gaap:DeferredCompensationLiabilityCurrent |
Seaboard purchases investments that are classified as trading securities and included in other current assets, and recognizes the amount payable to employees in other current liabilities on the consolidated balance sheets. Investments for Seaboard’s deferred compensation plans were $ 22 million and $ 26 million as of December 31, 2023 and 2022, respectively. The amount payable to employees was $ 19 million and $ 23 million as of December 31, 2023 and 2022, respectively. Deferred compensation plan costs recognized in selling, general and administrative expenses are offset by the effect of the marked-to-market adjustments on investments recorded in other investment income (loss). | text | 23 | monetaryItemType | text: <entity> 23 </entity> <entity type> monetaryItemType </entity type> <context> Seaboard purchases investments that are classified as trading securities and included in other current assets, and recognizes the amount payable to employees in other current liabilities on the consolidated balance sheets. Investments for Seaboard’s deferred compensation plans were $ 22 million and $ 26 million as of December 31, 2023 and 2022, respectively. The amount payable to employees was $ 19 million and $ 23 million as of December 31, 2023 and 2022, respectively. Deferred compensation plan costs recognized in selling, general and administrative expenses are offset by the effect of the marked-to-market adjustments on investments recorded in other investment income (loss). </context> | us-gaap:DeferredCompensationLiabilityCurrent |
During 2023, the euro-denominated contingent consideration liability related to a 2018 acquisition was settled and Seaboard paid $ 30 million to the sellers. The range for the contingent consideration was between zero and $ 48 million and payable between five and eight years following the closing, with timing at the discretion of the sellers. The fair value was dependent on the probability of the acquiree achieving certain financial performance targets using earnings before interest, taxes, depreciation and amortization (“EBITDA”) as a metric. Prior to settlement, the contingent consideration was classified as level 3 since the calculation depended upon projected company-specific inputs using a Monte Carlo simulation. | text | 48 | monetaryItemType | text: <entity> 48 </entity> <entity type> monetaryItemType </entity type> <context> During 2023, the euro-denominated contingent consideration liability related to a 2018 acquisition was settled and Seaboard paid $ 30 million to the sellers. The range for the contingent consideration was between zero and $ 48 million and payable between five and eight years following the closing, with timing at the discretion of the sellers. The fair value was dependent on the probability of the acquiree achieving certain financial performance targets using earnings before interest, taxes, depreciation and amortization (“EBITDA”) as a metric. Prior to settlement, the contingent consideration was classified as level 3 since the calculation depended upon projected company-specific inputs using a Monte Carlo simulation. </context> | us-gaap:BusinessCombinationContingentConsiderationArrangementsRangeOfOutcomesValueHigh |
Seaboard’s operations are exposed to market risks from changes in commodity prices, foreign currency exchange rates, interest rates and equity prices. Seaboard uses derivatives to manage its commodity and foreign currency fluctuations. From time to time, Seaboard enters into interest rate swap agreements to manage the interest rate risk of certain variable rate long-term debt and enters into equity futures contracts to manage the equity price risk of certain short-term investments. While management believes its derivatives are primarily economic hedges, Seaboard does not perform the extensive record-keeping required to account for these types of transactions as hedges for accounting purposes. As a result, fluctuations in prices and rates could have a material impact on earnings in any given reporting period. Credit risks associated with derivative contracts are not significant as Seaboard minimizes counterparty exposure by dealing with credit-worthy counterparties and uses margin accounts for some accounts. As of December 31, 2023, the maximum amount of credit risk, had the counterparties failed to perform according to the terms of the contract, was $ 3 million. | text | 3 | monetaryItemType | text: <entity> 3 </entity> <entity type> monetaryItemType </entity type> <context> Seaboard’s operations are exposed to market risks from changes in commodity prices, foreign currency exchange rates, interest rates and equity prices. Seaboard uses derivatives to manage its commodity and foreign currency fluctuations. From time to time, Seaboard enters into interest rate swap agreements to manage the interest rate risk of certain variable rate long-term debt and enters into equity futures contracts to manage the equity price risk of certain short-term investments. While management believes its derivatives are primarily economic hedges, Seaboard does not perform the extensive record-keeping required to account for these types of transactions as hedges for accounting purposes. As a result, fluctuations in prices and rates could have a material impact on earnings in any given reporting period. Credit risks associated with derivative contracts are not significant as Seaboard minimizes counterparty exposure by dealing with credit-worthy counterparties and uses margin accounts for some accounts. As of December 31, 2023, the maximum amount of credit risk, had the counterparties failed to perform according to the terms of the contract, was $ 3 million. </context> | us-gaap:ConcentrationRiskCreditRiskFinancialInstrumentMaximumExposure |
Seaboard enters into foreign currency exchange agreements to manage the foreign currency exchange rate risk of certain transactions denominated in foreign currencies. Foreign currency exchange agreements that primarily relate to an underlying commodity transaction are recorded at fair value with changes in value recognized as a component of cost of sales. Other foreign currency exchange agreements are recognized as a component of foreign currency gains (losses), net. As of December 31, 2023 and 2022, Seaboard had foreign currency exchange agreements with notional amounts of $ 152 million and $ 190 million, respectively, primarily related to the South African rand and euro. | text | 152 | monetaryItemType | text: <entity> 152 </entity> <entity type> monetaryItemType </entity type> <context> Seaboard enters into foreign currency exchange agreements to manage the foreign currency exchange rate risk of certain transactions denominated in foreign currencies. Foreign currency exchange agreements that primarily relate to an underlying commodity transaction are recorded at fair value with changes in value recognized as a component of cost of sales. Other foreign currency exchange agreements are recognized as a component of foreign currency gains (losses), net. As of December 31, 2023 and 2022, Seaboard had foreign currency exchange agreements with notional amounts of $ 152 million and $ 190 million, respectively, primarily related to the South African rand and euro. </context> | us-gaap:DerivativeNotionalAmount |
Seaboard enters into foreign currency exchange agreements to manage the foreign currency exchange rate risk of certain transactions denominated in foreign currencies. Foreign currency exchange agreements that primarily relate to an underlying commodity transaction are recorded at fair value with changes in value recognized as a component of cost of sales. Other foreign currency exchange agreements are recognized as a component of foreign currency gains (losses), net. As of December 31, 2023 and 2022, Seaboard had foreign currency exchange agreements with notional amounts of $ 152 million and $ 190 million, respectively, primarily related to the South African rand and euro. | text | 190 | monetaryItemType | text: <entity> 190 </entity> <entity type> monetaryItemType </entity type> <context> Seaboard enters into foreign currency exchange agreements to manage the foreign currency exchange rate risk of certain transactions denominated in foreign currencies. Foreign currency exchange agreements that primarily relate to an underlying commodity transaction are recorded at fair value with changes in value recognized as a component of cost of sales. Other foreign currency exchange agreements are recognized as a component of foreign currency gains (losses), net. As of December 31, 2023 and 2022, Seaboard had foreign currency exchange agreements with notional amounts of $ 152 million and $ 190 million, respectively, primarily related to the South African rand and euro. </context> | us-gaap:DerivativeNotionalAmount |
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, 2023 and 2022, the commodity derivatives had a margin account balance of $ 19 million and $ 3 million, respectively, resulting in a net other current asset in the consolidated balance sheets of $ 24 million and $ 27 million, respectively. | text | 19 | monetaryItemType | text: <entity> 19 </entity> <entity type> monetaryItemType </entity type> <context> 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, 2023 and 2022, the commodity derivatives had a margin account balance of $ 19 million and $ 3 million, respectively, resulting in a net other current asset in the consolidated balance sheets of $ 24 million and $ 27 million, respectively. </context> | us-gaap:MarginDepositAssets |
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, 2023 and 2022, the commodity derivatives had a margin account balance of $ 19 million and $ 3 million, respectively, resulting in a net other current asset in the consolidated balance sheets of $ 24 million and $ 27 million, respectively. | text | 3 | monetaryItemType | text: <entity> 3 </entity> <entity type> monetaryItemType </entity type> <context> 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, 2023 and 2022, the commodity derivatives had a margin account balance of $ 19 million and $ 3 million, respectively, resulting in a net other current asset in the consolidated balance sheets of $ 24 million and $ 27 million, respectively. </context> | us-gaap:MarginDepositAssets |
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, 2023 and 2022, the commodity derivatives had a margin account balance of $ 19 million and $ 3 million, respectively, resulting in a net other current asset in the consolidated balance sheets of $ 24 million and $ 27 million, respectively. | text | 24 | monetaryItemType | text: <entity> 24 </entity> <entity type> monetaryItemType </entity type> <context> 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, 2023 and 2022, the commodity derivatives had a margin account balance of $ 19 million and $ 3 million, respectively, resulting in a net other current asset in the consolidated balance sheets of $ 24 million and $ 27 million, respectively. </context> | us-gaap:DerivativeFairValueOfDerivativeNet |
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, 2023 and 2022, the commodity derivatives had a margin account balance of $ 19 million and $ 3 million, respectively, resulting in a net other current asset in the consolidated balance sheets of $ 24 million and $ 27 million, respectively. | text | 27 | monetaryItemType | text: <entity> 27 </entity> <entity type> monetaryItemType </entity type> <context> 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, 2023 and 2022, the commodity derivatives had a margin account balance of $ 19 million and $ 3 million, respectively, resulting in a net other current asset in the consolidated balance sheets of $ 24 million and $ 27 million, respectively. </context> | us-gaap:DerivativeFairValueOfDerivativeNet |
On October 10, 2023, in a privately negotiated transaction, Seaboard repurchased an aggregate of 189,724 shares of its common stock from certain affiliates at a price below the traded market price for an aggregate purchase price of $ 600 million. Shares repurchased were retired and retained earnings decreased $ 608 million for the purchase and related U.S. excise taxes. Other transaction fees were immaterial. | text | 189724 | sharesItemType | text: <entity> 189724 </entity> <entity type> sharesItemType </entity type> <context> On October 10, 2023, in a privately negotiated transaction, Seaboard repurchased an aggregate of 189,724 shares of its common stock from certain affiliates at a price below the traded market price for an aggregate purchase price of $ 600 million. Shares repurchased were retired and retained earnings decreased $ 608 million for the purchase and related U.S. excise taxes. Other transaction fees were immaterial. </context> | us-gaap:StockRepurchasedAndRetiredDuringPeriodShares |
On October 10, 2023, in a privately negotiated transaction, Seaboard repurchased an aggregate of 189,724 shares of its common stock from certain affiliates at a price below the traded market price for an aggregate purchase price of $ 600 million. Shares repurchased were retired and retained earnings decreased $ 608 million for the purchase and related U.S. excise taxes. Other transaction fees were immaterial. | text | 600 | monetaryItemType | text: <entity> 600 </entity> <entity type> monetaryItemType </entity type> <context> On October 10, 2023, in a privately negotiated transaction, Seaboard repurchased an aggregate of 189,724 shares of its common stock from certain affiliates at a price below the traded market price for an aggregate purchase price of $ 600 million. Shares repurchased were retired and retained earnings decreased $ 608 million for the purchase and related U.S. excise taxes. Other transaction fees were immaterial. </context> | us-gaap:StockRepurchasedAndRetiredDuringPeriodValue |
The cumulative unrecognized pension cost represents the unamortized net actuarial loss. Income taxes for the cumulative unrecognized pension cost component was recorded using a 25 % effective tax rate, except for unrecognized pension cost of $ 2 million, $ 5 million and $ 24 million in 2023, 2022 and 2021, respectively, related to employees at certain subsidiaries for which no tax benefit was recorded. | text | 2 | monetaryItemType | text: <entity> 2 </entity> <entity type> monetaryItemType </entity type> <context> The cumulative unrecognized pension cost represents the unamortized net actuarial loss. Income taxes for the cumulative unrecognized pension cost component was recorded using a 25 % effective tax rate, except for unrecognized pension cost of $ 2 million, $ 5 million and $ 24 million in 2023, 2022 and 2021, respectively, related to employees at certain subsidiaries for which no tax benefit was recorded. </context> | us-gaap:AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax |
The cumulative unrecognized pension cost represents the unamortized net actuarial loss. Income taxes for the cumulative unrecognized pension cost component was recorded using a 25 % effective tax rate, except for unrecognized pension cost of $ 2 million, $ 5 million and $ 24 million in 2023, 2022 and 2021, respectively, related to employees at certain subsidiaries for which no tax benefit was recorded. | text | 5 | monetaryItemType | text: <entity> 5 </entity> <entity type> monetaryItemType </entity type> <context> The cumulative unrecognized pension cost represents the unamortized net actuarial loss. Income taxes for the cumulative unrecognized pension cost component was recorded using a 25 % effective tax rate, except for unrecognized pension cost of $ 2 million, $ 5 million and $ 24 million in 2023, 2022 and 2021, respectively, related to employees at certain subsidiaries for which no tax benefit was recorded. </context> | us-gaap:AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax |
The cumulative unrecognized pension cost represents the unamortized net actuarial loss. Income taxes for the cumulative unrecognized pension cost component was recorded using a 25 % effective tax rate, except for unrecognized pension cost of $ 2 million, $ 5 million and $ 24 million in 2023, 2022 and 2021, respectively, related to employees at certain subsidiaries for which no tax benefit was recorded. | text | 24 | monetaryItemType | text: <entity> 24 </entity> <entity type> monetaryItemType </entity type> <context> The cumulative unrecognized pension cost represents the unamortized net actuarial loss. Income taxes for the cumulative unrecognized pension cost component was recorded using a 25 % effective tax rate, except for unrecognized pension cost of $ 2 million, $ 5 million and $ 24 million in 2023, 2022 and 2021, respectively, related to employees at certain subsidiaries for which no tax benefit was recorded. </context> | us-gaap:AccumulatedOtherComprehensiveIncomeLossDefinedBenefitPensionAndOtherPostretirementPlansNetOfTax |
Seaboard has invested in research and development activities, capital expenditures and other investments that generate federal tax credits. During 2023, Seaboard’s capital expenditures related to renewable biogas recovery and solar facilities generated $ 30 million of federal investment tax credits. During 2022, Seaboard invested $ 52 million in a solar renewable energy project in Guam and received $ 46 million of federal investment tax credits. Seaboard accounted for this solar investment using the flow-through method and recognized the impact of the investment tax credits in the period earned on a gross basis, with the charge related to the reduction of the investment recorded in other investment income (loss) offset by the benefit of the credits recorded in income tax benefit (expense). Research and development activities primarily accounted for the remainder of the federal tax credits generated. | text | 30 | monetaryItemType | text: <entity> 30 </entity> <entity type> monetaryItemType </entity type> <context> Seaboard has invested in research and development activities, capital expenditures and other investments that generate federal tax credits. During 2023, Seaboard’s capital expenditures related to renewable biogas recovery and solar facilities generated $ 30 million of federal investment tax credits. During 2022, Seaboard invested $ 52 million in a solar renewable energy project in Guam and received $ 46 million of federal investment tax credits. Seaboard accounted for this solar investment using the flow-through method and recognized the impact of the investment tax credits in the period earned on a gross basis, with the charge related to the reduction of the investment recorded in other investment income (loss) offset by the benefit of the credits recorded in income tax benefit (expense). Research and development activities primarily accounted for the remainder of the federal tax credits generated. </context> | us-gaap:InvestmentTaxCredit |
Seaboard has invested in research and development activities, capital expenditures and other investments that generate federal tax credits. During 2023, Seaboard’s capital expenditures related to renewable biogas recovery and solar facilities generated $ 30 million of federal investment tax credits. During 2022, Seaboard invested $ 52 million in a solar renewable energy project in Guam and received $ 46 million of federal investment tax credits. Seaboard accounted for this solar investment using the flow-through method and recognized the impact of the investment tax credits in the period earned on a gross basis, with the charge related to the reduction of the investment recorded in other investment income (loss) offset by the benefit of the credits recorded in income tax benefit (expense). Research and development activities primarily accounted for the remainder of the federal tax credits generated. | text | 52 | monetaryItemType | text: <entity> 52 </entity> <entity type> monetaryItemType </entity type> <context> Seaboard has invested in research and development activities, capital expenditures and other investments that generate federal tax credits. During 2023, Seaboard’s capital expenditures related to renewable biogas recovery and solar facilities generated $ 30 million of federal investment tax credits. During 2022, Seaboard invested $ 52 million in a solar renewable energy project in Guam and received $ 46 million of federal investment tax credits. Seaboard accounted for this solar investment using the flow-through method and recognized the impact of the investment tax credits in the period earned on a gross basis, with the charge related to the reduction of the investment recorded in other investment income (loss) offset by the benefit of the credits recorded in income tax benefit (expense). Research and development activities primarily accounted for the remainder of the federal tax credits generated. </context> | us-gaap:PaymentsToAcquireLongtermInvestments |
Seaboard has invested in research and development activities, capital expenditures and other investments that generate federal tax credits. During 2023, Seaboard’s capital expenditures related to renewable biogas recovery and solar facilities generated $ 30 million of federal investment tax credits. During 2022, Seaboard invested $ 52 million in a solar renewable energy project in Guam and received $ 46 million of federal investment tax credits. Seaboard accounted for this solar investment using the flow-through method and recognized the impact of the investment tax credits in the period earned on a gross basis, with the charge related to the reduction of the investment recorded in other investment income (loss) offset by the benefit of the credits recorded in income tax benefit (expense). Research and development activities primarily accounted for the remainder of the federal tax credits generated. | text | 46 | monetaryItemType | text: <entity> 46 </entity> <entity type> monetaryItemType </entity type> <context> Seaboard has invested in research and development activities, capital expenditures and other investments that generate federal tax credits. During 2023, Seaboard’s capital expenditures related to renewable biogas recovery and solar facilities generated $ 30 million of federal investment tax credits. During 2022, Seaboard invested $ 52 million in a solar renewable energy project in Guam and received $ 46 million of federal investment tax credits. Seaboard accounted for this solar investment using the flow-through method and recognized the impact of the investment tax credits in the period earned on a gross basis, with the charge related to the reduction of the investment recorded in other investment income (loss) offset by the benefit of the credits recorded in income tax benefit (expense). Research and development activities primarily accounted for the remainder of the federal tax credits generated. </context> | us-gaap:InvestmentTaxCredit |
As of December 31, 2023 and 2022, Seaboard had income taxes receivable of $ 67 million and $ 54 million, respectively, primarily related to domestic tax jurisdictions, and had income taxes payable of $ 41 million and $ 18 million, respectively, primarily related to foreign tax jurisdictions. Income taxes receivable and income taxes payable are included in other receivables and other current liabilities in the consolidated balance sheets, respectively. | text | 67 | monetaryItemType | text: <entity> 67 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2023 and 2022, Seaboard had income taxes receivable of $ 67 million and $ 54 million, respectively, primarily related to domestic tax jurisdictions, and had income taxes payable of $ 41 million and $ 18 million, respectively, primarily related to foreign tax jurisdictions. Income taxes receivable and income taxes payable are included in other receivables and other current liabilities in the consolidated balance sheets, respectively. </context> | us-gaap:IncomeTaxReceivable |
As of December 31, 2023 and 2022, Seaboard had income taxes receivable of $ 67 million and $ 54 million, respectively, primarily related to domestic tax jurisdictions, and had income taxes payable of $ 41 million and $ 18 million, respectively, primarily related to foreign tax jurisdictions. Income taxes receivable and income taxes payable are included in other receivables and other current liabilities in the consolidated balance sheets, respectively. | text | 54 | monetaryItemType | text: <entity> 54 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2023 and 2022, Seaboard had income taxes receivable of $ 67 million and $ 54 million, respectively, primarily related to domestic tax jurisdictions, and had income taxes payable of $ 41 million and $ 18 million, respectively, primarily related to foreign tax jurisdictions. Income taxes receivable and income taxes payable are included in other receivables and other current liabilities in the consolidated balance sheets, respectively. </context> | us-gaap:IncomeTaxReceivable |
As of December 31, 2023 and 2022, Seaboard had income taxes receivable of $ 67 million and $ 54 million, respectively, primarily related to domestic tax jurisdictions, and had income taxes payable of $ 41 million and $ 18 million, respectively, primarily related to foreign tax jurisdictions. Income taxes receivable and income taxes payable are included in other receivables and other current liabilities in the consolidated balance sheets, respectively. | text | 41 | monetaryItemType | text: <entity> 41 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2023 and 2022, Seaboard had income taxes receivable of $ 67 million and $ 54 million, respectively, primarily related to domestic tax jurisdictions, and had income taxes payable of $ 41 million and $ 18 million, respectively, primarily related to foreign tax jurisdictions. Income taxes receivable and income taxes payable are included in other receivables and other current liabilities in the consolidated balance sheets, respectively. </context> | us-gaap:AccruedIncomeTaxes |
As of December 31, 2023 and 2022, Seaboard had income taxes receivable of $ 67 million and $ 54 million, respectively, primarily related to domestic tax jurisdictions, and had income taxes payable of $ 41 million and $ 18 million, respectively, primarily related to foreign tax jurisdictions. Income taxes receivable and income taxes payable are included in other receivables and other current liabilities in the consolidated balance sheets, respectively. | text | 18 | monetaryItemType | text: <entity> 18 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2023 and 2022, Seaboard had income taxes receivable of $ 67 million and $ 54 million, respectively, primarily related to domestic tax jurisdictions, and had income taxes payable of $ 41 million and $ 18 million, respectively, primarily related to foreign tax jurisdictions. Income taxes receivable and income taxes payable are included in other receivables and other current liabilities in the consolidated balance sheets, respectively. </context> | us-gaap:AccruedIncomeTaxes |
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 state net operating losses, foreign net operating losses and tax credits. Management does not believe these benefits are more likely than not to be realized due to limitations imposed on the utilization of these losses and credits. As of December 31, 2023, Seaboard had state net operating loss carry-forwards of approximately $ 287 million and foreign net operating loss carry-forwards of approximately $ 35 million, a portion of which expire in varying amounts between 2024 and 2043, while others have indefinite expiration periods. As of December 31, 2023, Seaboard had federal tax credit carry-forwards of approximately $ 82 million which expire between 2042 and 2043, and state tax credit carry-forwards of approximately $ 40 million, a portion of which expire in varying amounts between 2024 and 2030 with the remainder available for indefinite carry-forward. | text | 287 | monetaryItemType | text: <entity> 287 </entity> <entity type> monetaryItemType </entity type> <context> 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 state net operating losses, foreign net operating losses and tax credits. Management does not believe these benefits are more likely than not to be realized due to limitations imposed on the utilization of these losses and credits. As of December 31, 2023, Seaboard had state net operating loss carry-forwards of approximately $ 287 million and foreign net operating loss carry-forwards of approximately $ 35 million, a portion of which expire in varying amounts between 2024 and 2043, while others have indefinite expiration periods. As of December 31, 2023, Seaboard had federal tax credit carry-forwards of approximately $ 82 million which expire between 2042 and 2043, and state tax credit carry-forwards of approximately $ 40 million, a portion of which expire in varying amounts between 2024 and 2030 with the remainder available for indefinite carry-forward. </context> | us-gaap:OperatingLossCarryforwards |
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 state net operating losses, foreign net operating losses and tax credits. Management does not believe these benefits are more likely than not to be realized due to limitations imposed on the utilization of these losses and credits. As of December 31, 2023, Seaboard had state net operating loss carry-forwards of approximately $ 287 million and foreign net operating loss carry-forwards of approximately $ 35 million, a portion of which expire in varying amounts between 2024 and 2043, while others have indefinite expiration periods. As of December 31, 2023, Seaboard had federal tax credit carry-forwards of approximately $ 82 million which expire between 2042 and 2043, and state tax credit carry-forwards of approximately $ 40 million, a portion of which expire in varying amounts between 2024 and 2030 with the remainder available for indefinite carry-forward. | text | 35 | monetaryItemType | text: <entity> 35 </entity> <entity type> monetaryItemType </entity type> <context> 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 state net operating losses, foreign net operating losses and tax credits. Management does not believe these benefits are more likely than not to be realized due to limitations imposed on the utilization of these losses and credits. As of December 31, 2023, Seaboard had state net operating loss carry-forwards of approximately $ 287 million and foreign net operating loss carry-forwards of approximately $ 35 million, a portion of which expire in varying amounts between 2024 and 2043, while others have indefinite expiration periods. As of December 31, 2023, Seaboard had federal tax credit carry-forwards of approximately $ 82 million which expire between 2042 and 2043, and state tax credit carry-forwards of approximately $ 40 million, a portion of which expire in varying amounts between 2024 and 2030 with the remainder available for indefinite carry-forward. </context> | us-gaap:OperatingLossCarryforwards |
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 state net operating losses, foreign net operating losses and tax credits. Management does not believe these benefits are more likely than not to be realized due to limitations imposed on the utilization of these losses and credits. As of December 31, 2023, Seaboard had state net operating loss carry-forwards of approximately $ 287 million and foreign net operating loss carry-forwards of approximately $ 35 million, a portion of which expire in varying amounts between 2024 and 2043, while others have indefinite expiration periods. As of December 31, 2023, Seaboard had federal tax credit carry-forwards of approximately $ 82 million which expire between 2042 and 2043, and state tax credit carry-forwards of approximately $ 40 million, a portion of which expire in varying amounts between 2024 and 2030 with the remainder available for indefinite carry-forward. | text | 82 | monetaryItemType | text: <entity> 82 </entity> <entity type> monetaryItemType </entity type> <context> 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 state net operating losses, foreign net operating losses and tax credits. Management does not believe these benefits are more likely than not to be realized due to limitations imposed on the utilization of these losses and credits. As of December 31, 2023, Seaboard had state net operating loss carry-forwards of approximately $ 287 million and foreign net operating loss carry-forwards of approximately $ 35 million, a portion of which expire in varying amounts between 2024 and 2043, while others have indefinite expiration periods. As of December 31, 2023, Seaboard had federal tax credit carry-forwards of approximately $ 82 million which expire between 2042 and 2043, and state tax credit carry-forwards of approximately $ 40 million, a portion of which expire in varying amounts between 2024 and 2030 with the remainder available for indefinite carry-forward. </context> | us-gaap:TaxCreditCarryforwardAmount |
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 state net operating losses, foreign net operating losses and tax credits. Management does not believe these benefits are more likely than not to be realized due to limitations imposed on the utilization of these losses and credits. As of December 31, 2023, Seaboard had state net operating loss carry-forwards of approximately $ 287 million and foreign net operating loss carry-forwards of approximately $ 35 million, a portion of which expire in varying amounts between 2024 and 2043, while others have indefinite expiration periods. As of December 31, 2023, Seaboard had federal tax credit carry-forwards of approximately $ 82 million which expire between 2042 and 2043, and state tax credit carry-forwards of approximately $ 40 million, a portion of which expire in varying amounts between 2024 and 2030 with the remainder available for indefinite carry-forward. | text | 40 | monetaryItemType | text: <entity> 40 </entity> <entity type> monetaryItemType </entity type> <context> 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 state net operating losses, foreign net operating losses and tax credits. Management does not believe these benefits are more likely than not to be realized due to limitations imposed on the utilization of these losses and credits. As of December 31, 2023, Seaboard had state net operating loss carry-forwards of approximately $ 287 million and foreign net operating loss carry-forwards of approximately $ 35 million, a portion of which expire in varying amounts between 2024 and 2043, while others have indefinite expiration periods. As of December 31, 2023, Seaboard had federal tax credit carry-forwards of approximately $ 82 million which expire between 2042 and 2043, and state tax credit carry-forwards of approximately $ 40 million, a portion of which expire in varying amounts between 2024 and 2030 with the remainder available for indefinite carry-forward. </context> | us-gaap:TaxCreditCarryforwardAmount |
Historically, Seaboard has considered substantially all foreign profits as being permanently invested in its foreign operations, including all cash and short-term investments held by foreign subsidiaries. During 2022, Seaboard reversed its indefinite reinvestment assertion in connection with certain previously-taxed undistributed earnings of its Seaboard Marine subsidiary due to the tax effectiveness of repatriating. As a result, Seaboard recorded a deferred tax liability of $ 13 million for federal and state incremental tax costs associated with the repatriation of Seaboard Marine’s previously-taxed foreign undistributed earnings. For all other foreign subsidiaries, Seaboard intends to continue permanently reinvesting their funds outside the U.S. as they continue to demonstrate no need to repatriate them to fund Seaboard’s U.S. operations for the foreseeable future. Seaboard has not recorded deferred taxes for state or foreign withholding taxes that would result upon repatriation of these funds to the U.S. because determination of the tax that might be paid on unremitted earnings if eventually remitted is not practical due to the complexity of the multi-jurisdictional tax environment in which Seaboard operates. | text | 13 | monetaryItemType | text: <entity> 13 </entity> <entity type> monetaryItemType </entity type> <context> Historically, Seaboard has considered substantially all foreign profits as being permanently invested in its foreign operations, including all cash and short-term investments held by foreign subsidiaries. During 2022, Seaboard reversed its indefinite reinvestment assertion in connection with certain previously-taxed undistributed earnings of its Seaboard Marine subsidiary due to the tax effectiveness of repatriating. As a result, Seaboard recorded a deferred tax liability of $ 13 million for federal and state incremental tax costs associated with the repatriation of Seaboard Marine’s previously-taxed foreign undistributed earnings. For all other foreign subsidiaries, Seaboard intends to continue permanently reinvesting their funds outside the U.S. as they continue to demonstrate no need to repatriate them to fund Seaboard’s U.S. operations for the foreseeable future. Seaboard has not recorded deferred taxes for state or foreign withholding taxes that would result upon repatriation of these funds to the U.S. because determination of the tax that might be paid on unremitted earnings if eventually remitted is not practical due to the complexity of the multi-jurisdictional tax environment in which Seaboard operates. </context> | us-gaap:DeferredTaxLiabilitiesUndistributedForeignEarnings |
As of December 31, 2023 and 2022, Seaboard had $ 49 million and $ 51 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. | text | 49 | monetaryItemType | text: <entity> 49 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2023 and 2022, Seaboard had $ 49 million and $ 51 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. </context> | us-gaap:UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate |
As of December 31, 2023 and 2022, Seaboard had $ 49 million and $ 51 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. | text | 51 | monetaryItemType | text: <entity> 51 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2023 and 2022, Seaboard had $ 49 million and $ 51 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. </context> | us-gaap:UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate |
Seaboard accrues interest and penalties related to unrecognized tax benefits in income tax expense and had approximately $ 10 million and $ 9 million accrued as of December 31, 2023 and 2022, respectively. | text | 10 | monetaryItemType | text: <entity> 10 </entity> <entity type> monetaryItemType </entity type> <context> Seaboard accrues interest and penalties related to unrecognized tax benefits in income tax expense and had approximately $ 10 million and $ 9 million accrued as of December 31, 2023 and 2022, respectively. </context> | us-gaap:UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued |
Seaboard accrues interest and penalties related to unrecognized tax benefits in income tax expense and had approximately $ 10 million and $ 9 million accrued as of December 31, 2023 and 2022, respectively. | text | 9 | monetaryItemType | text: <entity> 9 </entity> <entity type> monetaryItemType </entity type> <context> Seaboard accrues interest and penalties related to unrecognized tax benefits in income tax expense and had approximately $ 10 million and $ 9 million accrued as of December 31, 2023 and 2022, respectively. </context> | us-gaap:UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued |
Seaboard has six reportable segments: Pork, CT&M, Marine, Sugar and Alcohol, 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 segments is separately managed, and each was started or acquired independent of the other segments. | text | six | integerItemType | text: <entity> six </entity> <entity type> integerItemType </entity type> <context> Seaboard has six reportable segments: Pork, CT&M, Marine, Sugar and Alcohol, 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 segments is separately managed, and each was started or acquired independent of the other segments. </context> | us-gaap:NumberOfReportableSegments |
The Pork segment primarily produces hogs to process and sells pork products to further processors, food service operators, distributors and grocery stores throughout the U.S. and to foreign markets. In 2022, this segment acquired hog inventory and certain hog farms in the central U.S. for total cash consideration of $ 58 million. These additional farms increase the Pork segment’s sow base, resulting in less reliance on third-party hog suppliers. This segment also produces biodiesel and renewable diesel from pork fat and other animal fats and vegetable oils for sale to third parties, along with the related fuel credits. The Pork segment’s renewable diesel production facility began operations during the third quarter of 2022. | text | 58 | monetaryItemType | text: <entity> 58 </entity> <entity type> monetaryItemType </entity type> <context> The Pork segment primarily produces hogs to process and sells pork products to further processors, food service operators, distributors and grocery stores throughout the U.S. and to foreign markets. In 2022, this segment acquired hog inventory and certain hog farms in the central U.S. for total cash consideration of $ 58 million. These additional farms increase the Pork segment’s sow base, resulting in less reliance on third-party hog suppliers. This segment also produces biodiesel and renewable diesel from pork fat and other animal fats and vegetable oils for sale to third parties, along with the related fuel credits. The Pork segment’s renewable diesel production facility began operations during the third quarter of 2022. </context> | us-gaap:PaymentsToAcquireBusinessesNetOfCashAcquired |
The CT&M segment is an integrated agricultural commodity trading, processing and logistics operation that internationally markets wheat, corn, soybean meal and other agricultural commodities in bulk to third-party customers and to non-consolidated affiliates. This segment operates flour, maize and feed mills and bakery operations in numerous foreign countries. In 2022, this segment sold its Brazilian flour milling operations primarily for cash proceeds of $ 6 million, net of cash sold . In 2021, this segment increased its ownership interest in a feed manufacturer and hog producer in Ecuador from 50 % to 80 % for total consideration of $ 7 million of cash paid, net of cash acquired, Seaboard’s previously held equity interest and affiliate trade receivables. | text | 6 | monetaryItemType | text: <entity> 6 </entity> <entity type> monetaryItemType </entity type> <context> The CT&M segment is an integrated agricultural commodity trading, processing and logistics operation that internationally markets wheat, corn, soybean meal and other agricultural commodities in bulk to third-party customers and to non-consolidated affiliates. This segment operates flour, maize and feed mills and bakery operations in numerous foreign countries. In 2022, this segment sold its Brazilian flour milling operations primarily for cash proceeds of $ 6 million, net of cash sold . In 2021, this segment increased its ownership interest in a feed manufacturer and hog producer in Ecuador from 50 % to 80 % for total consideration of $ 7 million of cash paid, net of cash acquired, Seaboard’s previously held equity interest and affiliate trade receivables. </context> | us-gaap:ProceedsFromDivestitureOfBusinessesNetOfCashDivested |
The CT&M segment is an integrated agricultural commodity trading, processing and logistics operation that internationally markets wheat, corn, soybean meal and other agricultural commodities in bulk to third-party customers and to non-consolidated affiliates. This segment operates flour, maize and feed mills and bakery operations in numerous foreign countries. In 2022, this segment sold its Brazilian flour milling operations primarily for cash proceeds of $ 6 million, net of cash sold . In 2021, this segment increased its ownership interest in a feed manufacturer and hog producer in Ecuador from 50 % to 80 % for total consideration of $ 7 million of cash paid, net of cash acquired, Seaboard’s previously held equity interest and affiliate trade receivables. | text | 50 | percentItemType | text: <entity> 50 </entity> <entity type> percentItemType </entity type> <context> The CT&M segment is an integrated agricultural commodity trading, processing and logistics operation that internationally markets wheat, corn, soybean meal and other agricultural commodities in bulk to third-party customers and to non-consolidated affiliates. This segment operates flour, maize and feed mills and bakery operations in numerous foreign countries. In 2022, this segment sold its Brazilian flour milling operations primarily for cash proceeds of $ 6 million, net of cash sold . In 2021, this segment increased its ownership interest in a feed manufacturer and hog producer in Ecuador from 50 % to 80 % for total consideration of $ 7 million of cash paid, net of cash acquired, Seaboard’s previously held equity interest and affiliate trade receivables. </context> | us-gaap:EquityMethodInvestmentOwnershipPercentage |
The CT&M segment is an integrated agricultural commodity trading, processing and logistics operation that internationally markets wheat, corn, soybean meal and other agricultural commodities in bulk to third-party customers and to non-consolidated affiliates. This segment operates flour, maize and feed mills and bakery operations in numerous foreign countries. In 2022, this segment sold its Brazilian flour milling operations primarily for cash proceeds of $ 6 million, net of cash sold . In 2021, this segment increased its ownership interest in a feed manufacturer and hog producer in Ecuador from 50 % to 80 % for total consideration of $ 7 million of cash paid, net of cash acquired, Seaboard’s previously held equity interest and affiliate trade receivables. | text | 80 | percentItemType | text: <entity> 80 </entity> <entity type> percentItemType </entity type> <context> The CT&M segment is an integrated agricultural commodity trading, processing and logistics operation that internationally markets wheat, corn, soybean meal and other agricultural commodities in bulk to third-party customers and to non-consolidated affiliates. This segment operates flour, maize and feed mills and bakery operations in numerous foreign countries. In 2022, this segment sold its Brazilian flour milling operations primarily for cash proceeds of $ 6 million, net of cash sold . In 2021, this segment increased its ownership interest in a feed manufacturer and hog producer in Ecuador from 50 % to 80 % for total consideration of $ 7 million of cash paid, net of cash acquired, Seaboard’s previously held equity interest and affiliate trade receivables. </context> | us-gaap:EquityMethodInvestmentOwnershipPercentage |
The CT&M segment is an integrated agricultural commodity trading, processing and logistics operation that internationally markets wheat, corn, soybean meal and other agricultural commodities in bulk to third-party customers and to non-consolidated affiliates. This segment operates flour, maize and feed mills and bakery operations in numerous foreign countries. In 2022, this segment sold its Brazilian flour milling operations primarily for cash proceeds of $ 6 million, net of cash sold . In 2021, this segment increased its ownership interest in a feed manufacturer and hog producer in Ecuador from 50 % to 80 % for total consideration of $ 7 million of cash paid, net of cash acquired, Seaboard’s previously held equity interest and affiliate trade receivables. | text | 7 | monetaryItemType | text: <entity> 7 </entity> <entity type> monetaryItemType </entity type> <context> The CT&M segment is an integrated agricultural commodity trading, processing and logistics operation that internationally markets wheat, corn, soybean meal and other agricultural commodities in bulk to third-party customers and to non-consolidated affiliates. This segment operates flour, maize and feed mills and bakery operations in numerous foreign countries. In 2022, this segment sold its Brazilian flour milling operations primarily for cash proceeds of $ 6 million, net of cash sold . In 2021, this segment increased its ownership interest in a feed manufacturer and hog producer in Ecuador from 50 % to 80 % for total consideration of $ 7 million of cash paid, net of cash acquired, Seaboard’s previously held equity interest and affiliate trade receivables. </context> | us-gaap:PaymentsToAcquireBusinessesNetOfCashAcquired |
Seaboard had sales in Colombia totaling $ 1,260 million, $ 1,578 million and $ 1,144 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 13 %, 14 % and 12 % of total sales for each respective year. Seaboard had sales in South Africa totaling $ 824 million, $ 992 million and $ 917 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 9 %, 9 % and 10 % of total sales for each respective year. No other individual foreign country accounted for 10% or more of sales to external customers. | text | 1260 | monetaryItemType | text: <entity> 1260 </entity> <entity type> monetaryItemType </entity type> <context> Seaboard had sales in Colombia totaling $ 1,260 million, $ 1,578 million and $ 1,144 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 13 %, 14 % and 12 % of total sales for each respective year. Seaboard had sales in South Africa totaling $ 824 million, $ 992 million and $ 917 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 9 %, 9 % and 10 % of total sales for each respective year. No other individual foreign country accounted for 10% or more of sales to external customers. </context> | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
Seaboard had sales in Colombia totaling $ 1,260 million, $ 1,578 million and $ 1,144 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 13 %, 14 % and 12 % of total sales for each respective year. Seaboard had sales in South Africa totaling $ 824 million, $ 992 million and $ 917 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 9 %, 9 % and 10 % of total sales for each respective year. No other individual foreign country accounted for 10% or more of sales to external customers. | text | 1578 | monetaryItemType | text: <entity> 1578 </entity> <entity type> monetaryItemType </entity type> <context> Seaboard had sales in Colombia totaling $ 1,260 million, $ 1,578 million and $ 1,144 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 13 %, 14 % and 12 % of total sales for each respective year. Seaboard had sales in South Africa totaling $ 824 million, $ 992 million and $ 917 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 9 %, 9 % and 10 % of total sales for each respective year. No other individual foreign country accounted for 10% or more of sales to external customers. </context> | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
Seaboard had sales in Colombia totaling $ 1,260 million, $ 1,578 million and $ 1,144 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 13 %, 14 % and 12 % of total sales for each respective year. Seaboard had sales in South Africa totaling $ 824 million, $ 992 million and $ 917 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 9 %, 9 % and 10 % of total sales for each respective year. No other individual foreign country accounted for 10% or more of sales to external customers. | text | 1144 | monetaryItemType | text: <entity> 1144 </entity> <entity type> monetaryItemType </entity type> <context> Seaboard had sales in Colombia totaling $ 1,260 million, $ 1,578 million and $ 1,144 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 13 %, 14 % and 12 % of total sales for each respective year. Seaboard had sales in South Africa totaling $ 824 million, $ 992 million and $ 917 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 9 %, 9 % and 10 % of total sales for each respective year. No other individual foreign country accounted for 10% or more of sales to external customers. </context> | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
Seaboard had sales in Colombia totaling $ 1,260 million, $ 1,578 million and $ 1,144 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 13 %, 14 % and 12 % of total sales for each respective year. Seaboard had sales in South Africa totaling $ 824 million, $ 992 million and $ 917 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 9 %, 9 % and 10 % of total sales for each respective year. No other individual foreign country accounted for 10% or more of sales to external customers. | text | 13 | percentItemType | text: <entity> 13 </entity> <entity type> percentItemType </entity type> <context> Seaboard had sales in Colombia totaling $ 1,260 million, $ 1,578 million and $ 1,144 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 13 %, 14 % and 12 % of total sales for each respective year. Seaboard had sales in South Africa totaling $ 824 million, $ 992 million and $ 917 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 9 %, 9 % and 10 % of total sales for each respective year. No other individual foreign country accounted for 10% or more of sales to external customers. </context> | us-gaap:ConcentrationRiskPercentage1 |
Seaboard had sales in Colombia totaling $ 1,260 million, $ 1,578 million and $ 1,144 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 13 %, 14 % and 12 % of total sales for each respective year. Seaboard had sales in South Africa totaling $ 824 million, $ 992 million and $ 917 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 9 %, 9 % and 10 % of total sales for each respective year. No other individual foreign country accounted for 10% or more of sales to external customers. | text | 14 | percentItemType | text: <entity> 14 </entity> <entity type> percentItemType </entity type> <context> Seaboard had sales in Colombia totaling $ 1,260 million, $ 1,578 million and $ 1,144 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 13 %, 14 % and 12 % of total sales for each respective year. Seaboard had sales in South Africa totaling $ 824 million, $ 992 million and $ 917 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 9 %, 9 % and 10 % of total sales for each respective year. No other individual foreign country accounted for 10% or more of sales to external customers. </context> | us-gaap:ConcentrationRiskPercentage1 |
Seaboard had sales in Colombia totaling $ 1,260 million, $ 1,578 million and $ 1,144 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 13 %, 14 % and 12 % of total sales for each respective year. Seaboard had sales in South Africa totaling $ 824 million, $ 992 million and $ 917 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 9 %, 9 % and 10 % of total sales for each respective year. No other individual foreign country accounted for 10% or more of sales to external customers. | text | 12 | percentItemType | text: <entity> 12 </entity> <entity type> percentItemType </entity type> <context> Seaboard had sales in Colombia totaling $ 1,260 million, $ 1,578 million and $ 1,144 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 13 %, 14 % and 12 % of total sales for each respective year. Seaboard had sales in South Africa totaling $ 824 million, $ 992 million and $ 917 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 9 %, 9 % and 10 % of total sales for each respective year. No other individual foreign country accounted for 10% or more of sales to external customers. </context> | us-gaap:ConcentrationRiskPercentage1 |
Seaboard had sales in Colombia totaling $ 1,260 million, $ 1,578 million and $ 1,144 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 13 %, 14 % and 12 % of total sales for each respective year. Seaboard had sales in South Africa totaling $ 824 million, $ 992 million and $ 917 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 9 %, 9 % and 10 % of total sales for each respective year. No other individual foreign country accounted for 10% or more of sales to external customers. | text | 824 | monetaryItemType | text: <entity> 824 </entity> <entity type> monetaryItemType </entity type> <context> Seaboard had sales in Colombia totaling $ 1,260 million, $ 1,578 million and $ 1,144 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 13 %, 14 % and 12 % of total sales for each respective year. Seaboard had sales in South Africa totaling $ 824 million, $ 992 million and $ 917 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 9 %, 9 % and 10 % of total sales for each respective year. No other individual foreign country accounted for 10% or more of sales to external customers. </context> | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
Seaboard had sales in Colombia totaling $ 1,260 million, $ 1,578 million and $ 1,144 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 13 %, 14 % and 12 % of total sales for each respective year. Seaboard had sales in South Africa totaling $ 824 million, $ 992 million and $ 917 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 9 %, 9 % and 10 % of total sales for each respective year. No other individual foreign country accounted for 10% or more of sales to external customers. | text | 992 | monetaryItemType | text: <entity> 992 </entity> <entity type> monetaryItemType </entity type> <context> Seaboard had sales in Colombia totaling $ 1,260 million, $ 1,578 million and $ 1,144 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 13 %, 14 % and 12 % of total sales for each respective year. Seaboard had sales in South Africa totaling $ 824 million, $ 992 million and $ 917 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 9 %, 9 % and 10 % of total sales for each respective year. No other individual foreign country accounted for 10% or more of sales to external customers. </context> | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
Seaboard had sales in Colombia totaling $ 1,260 million, $ 1,578 million and $ 1,144 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 13 %, 14 % and 12 % of total sales for each respective year. Seaboard had sales in South Africa totaling $ 824 million, $ 992 million and $ 917 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 9 %, 9 % and 10 % of total sales for each respective year. No other individual foreign country accounted for 10% or more of sales to external customers. | text | 917 | monetaryItemType | text: <entity> 917 </entity> <entity type> monetaryItemType </entity type> <context> Seaboard had sales in Colombia totaling $ 1,260 million, $ 1,578 million and $ 1,144 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 13 %, 14 % and 12 % of total sales for each respective year. Seaboard had sales in South Africa totaling $ 824 million, $ 992 million and $ 917 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 9 %, 9 % and 10 % of total sales for each respective year. No other individual foreign country accounted for 10% or more of sales to external customers. </context> | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
Seaboard had sales in Colombia totaling $ 1,260 million, $ 1,578 million and $ 1,144 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 13 %, 14 % and 12 % of total sales for each respective year. Seaboard had sales in South Africa totaling $ 824 million, $ 992 million and $ 917 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 9 %, 9 % and 10 % of total sales for each respective year. No other individual foreign country accounted for 10% or more of sales to external customers. | text | 9 | percentItemType | text: <entity> 9 </entity> <entity type> percentItemType </entity type> <context> Seaboard had sales in Colombia totaling $ 1,260 million, $ 1,578 million and $ 1,144 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 13 %, 14 % and 12 % of total sales for each respective year. Seaboard had sales in South Africa totaling $ 824 million, $ 992 million and $ 917 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 9 %, 9 % and 10 % of total sales for each respective year. No other individual foreign country accounted for 10% or more of sales to external customers. </context> | us-gaap:ConcentrationRiskPercentage1 |
Seaboard had sales in Colombia totaling $ 1,260 million, $ 1,578 million and $ 1,144 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 13 %, 14 % and 12 % of total sales for each respective year. Seaboard had sales in South Africa totaling $ 824 million, $ 992 million and $ 917 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 9 %, 9 % and 10 % of total sales for each respective year. No other individual foreign country accounted for 10% or more of sales to external customers. | text | 10 | percentItemType | text: <entity> 10 </entity> <entity type> percentItemType </entity type> <context> Seaboard had sales in Colombia totaling $ 1,260 million, $ 1,578 million and $ 1,144 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 13 %, 14 % and 12 % of total sales for each respective year. Seaboard had sales in South Africa totaling $ 824 million, $ 992 million and $ 917 million for the years ended December 31, 2023, 2022 and 2021, respectively, representing 9 %, 9 % and 10 % of total sales for each respective year. No other individual foreign country accounted for 10% or more of sales to external customers. </context> | us-gaap:ConcentrationRiskPercentage1 |
shares outstanding of $ 2.50 par value common stock. | text | 2.50 | perShareItemType | text: <entity> 2.50 </entity> <entity type> perShareItemType </entity type> <context> shares outstanding of $ 2.50 par value common stock. </context> | us-gaap:CommonStockParOrStatedValuePerShare |
As described in Notes 1 and 9 to the consolidated financial statements, the Company’s consolidated goodwill balance was $ 2,370 million as of December 31, 2024, of which 31 percent relates to the drivetrain and braking systems reporting unit. Effective October 31, 2024, management changed the annual goodwill impairment testing date for all reporting units from the last day of the fiscal third quarter to October 31. To ensure that no lapse greater than twelve months occurred, management performed an impairment test as of the end of the fiscal third quarter. Management performs the annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. In estimating the fair value of the reporting unit, management used an income approach using a discounted cash flow model. The discounted cash flow model requires projections of revenue, gross margin, operating expenses, working capital investment and fixed asset additions for the reporting unit over a multi-year period, and a discount rate based upon a weighted-average cost of capital. | text | 2370 | monetaryItemType | text: <entity> 2370 </entity> <entity type> monetaryItemType </entity type> <context> As described in Notes 1 and 9 to the consolidated financial statements, the Company’s consolidated goodwill balance was $ 2,370 million as of December 31, 2024, of which 31 percent relates to the drivetrain and braking systems reporting unit. Effective October 31, 2024, management changed the annual goodwill impairment testing date for all reporting units from the last day of the fiscal third quarter to October 31. To ensure that no lapse greater than twelve months occurred, management performed an impairment test as of the end of the fiscal third quarter. Management performs the annual or interim goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. In estimating the fair value of the reporting unit, management used an income approach using a discounted cash flow model. The discounted cash flow model requires projections of revenue, gross margin, operating expenses, working capital investment and fixed asset additions for the reporting unit over a multi-year period, and a discount rate based upon a weighted-average cost of capital. </context> | us-gaap:Goodwill |
On March 18, 2024, we completed the divestiture of our remaining 80.5 percent ownership of Atmus Filtration Technologies Inc. (Atmus) common stock through a tax-free split-off. See NOTE 21, "ATMUS INITIAL PUBLIC OFFERING (IPO) AND DIVESTITURE," for additional information. | text | 80.5 | percentItemType | text: <entity> 80.5 </entity> <entity type> percentItemType </entity type> <context> On March 18, 2024, we completed the divestiture of our remaining 80.5 percent ownership of Atmus Filtration Technologies Inc. (Atmus) common stock through a tax-free split-off. See NOTE 21, "ATMUS INITIAL PUBLIC OFFERING (IPO) AND DIVESTITURE," for additional information. </context> | us-gaap:MinorityInterestOwnershipPercentageByParent |
In December 2023, we announced that we reached an agreement in principle with the U.S. Environmental Protection Agency (EPA), the California Air Resources Board (CARB), the Environmental and Natural Resources Division of the U.S. Department of Justice (DOJ) and the California Attorney General's Office to resolve certain regulatory civil claims regarding our emissions certification and compliance process for certain engines primarily used in pick-up truck applications in the U.S., which became final and effective in April 2024 (collectively, the Settlement Agreements). In the second quarter of 2024, we made $ 1.9 billion of payments required by the Settlement Agreements. See NOTE 14, “COMMITMENTS AND CONTINGENCIES,” for additional information. | text | 1.9 | monetaryItemType | text: <entity> 1.9 </entity> <entity type> monetaryItemType </entity type> <context> In December 2023, we announced that we reached an agreement in principle with the U.S. Environmental Protection Agency (EPA), the California Air Resources Board (CARB), the Environmental and Natural Resources Division of the U.S. Department of Justice (DOJ) and the California Attorney General's Office to resolve certain regulatory civil claims regarding our emissions certification and compliance process for certain engines primarily used in pick-up truck applications in the U.S., which became final and effective in April 2024 (collectively, the Settlement Agreements). In the second quarter of 2024, we made $ 1.9 billion of payments required by the Settlement Agreements. See NOTE 14, “COMMITMENTS AND CONTINGENCIES,” for additional information. </context> | us-gaap:LossContingencyAccrualPayments |
On August 3, 2022, we completed the acquisition of Meritor with a purchase price of $ 2.9 billion (including debt repaid concurrent with the acquisition). Our consolidated results and segment results include Meritor's activity since the date of acquisition. Meritor was split into the newly formed drivetrain and braking systems business and electric powertrain. The results for the drivetrain and braking systems are included in our Components segment while the electric powertrain portion is included in our Accelera segment. See NOTE 23, "ACQUISITIONS," | text | 2.9 | monetaryItemType | text: <entity> 2.9 </entity> <entity type> monetaryItemType </entity type> <context> On August 3, 2022, we completed the acquisition of Meritor with a purchase price of $ 2.9 billion (including debt repaid concurrent with the acquisition). Our consolidated results and segment results include Meritor's activity since the date of acquisition. Meritor was split into the newly formed drivetrain and braking systems business and electric powertrain. The results for the drivetrain and braking systems are included in our Components segment while the electric powertrain portion is included in our Accelera segment. See NOTE 23, "ACQUISITIONS," </context> | us-gaap:BusinessCombinationConsiderationTransferred1 |
We use the equity method to account for our investments in joint ventures, affiliated companies and alliances in which we have the ability to exercise significant influence, generally represented by equity ownership or partnership equity of at least 20 percent but not more than 50 percent. Generally, under the equity method, original investments in these entities are recorded at cost and subsequently adjusted by our share of equity in income or losses after the date of acquisition. Investment amounts in excess of our share of an investee's net assets are amortized over the life of the related asset creating the excess, except goodwill which is not amortized. Equity in income or losses of each investee is recorded according to our level of ownership; if losses accumulate, we record our share of losses until our investment has been fully depleted. If our investment has been fully depleted, we recognize additional losses only when we are the primary funding source. We eliminate (to the extent of our ownership percentage) in our | text | 20 | percentItemType | text: <entity> 20 </entity> <entity type> percentItemType </entity type> <context> We use the equity method to account for our investments in joint ventures, affiliated companies and alliances in which we have the ability to exercise significant influence, generally represented by equity ownership or partnership equity of at least 20 percent but not more than 50 percent. Generally, under the equity method, original investments in these entities are recorded at cost and subsequently adjusted by our share of equity in income or losses after the date of acquisition. Investment amounts in excess of our share of an investee's net assets are amortized over the life of the related asset creating the excess, except goodwill which is not amortized. Equity in income or losses of each investee is recorded according to our level of ownership; if losses accumulate, we record our share of losses until our investment has been fully depleted. If our investment has been fully depleted, we recognize additional losses only when we are the primary funding source. We eliminate (to the extent of our ownership percentage) in our </context> | us-gaap:EquityMethodInvestmentOwnershipPercentage |
We use the equity method to account for our investments in joint ventures, affiliated companies and alliances in which we have the ability to exercise significant influence, generally represented by equity ownership or partnership equity of at least 20 percent but not more than 50 percent. Generally, under the equity method, original investments in these entities are recorded at cost and subsequently adjusted by our share of equity in income or losses after the date of acquisition. Investment amounts in excess of our share of an investee's net assets are amortized over the life of the related asset creating the excess, except goodwill which is not amortized. Equity in income or losses of each investee is recorded according to our level of ownership; if losses accumulate, we record our share of losses until our investment has been fully depleted. If our investment has been fully depleted, we recognize additional losses only when we are the primary funding source. We eliminate (to the extent of our ownership percentage) in our | text | 50 | percentItemType | text: <entity> 50 </entity> <entity type> percentItemType </entity type> <context> We use the equity method to account for our investments in joint ventures, affiliated companies and alliances in which we have the ability to exercise significant influence, generally represented by equity ownership or partnership equity of at least 20 percent but not more than 50 percent. Generally, under the equity method, original investments in these entities are recorded at cost and subsequently adjusted by our share of equity in income or losses after the date of acquisition. Investment amounts in excess of our share of an investee's net assets are amortized over the life of the related asset creating the excess, except goodwill which is not amortized. Equity in income or losses of each investee is recorded according to our level of ownership; if losses accumulate, we record our share of losses until our investment has been fully depleted. If our investment has been fully depleted, we recognize additional losses only when we are the primary funding source. We eliminate (to the extent of our ownership percentage) in our </context> | us-gaap:EquityMethodInvestmentOwnershipPercentage |
, which combined with transaction gains and losses amounted to net losses of $ 41 million, $ 30 million and $ 8 million for the years ended December 31, 2024, 2023 and 2022, respectively. | text | 41 | monetaryItemType | text: <entity> 41 </entity> <entity type> monetaryItemType </entity type> <context> , which combined with transaction gains and losses amounted to net losses of $ 41 million, $ 30 million and $ 8 million for the years ended December 31, 2024, 2023 and 2022, respectively. </context> | us-gaap:ForeignCurrencyTransactionGainLossRealized |
, which combined with transaction gains and losses amounted to net losses of $ 41 million, $ 30 million and $ 8 million for the years ended December 31, 2024, 2023 and 2022, respectively. | text | 30 | monetaryItemType | text: <entity> 30 </entity> <entity type> monetaryItemType </entity type> <context> , which combined with transaction gains and losses amounted to net losses of $ 41 million, $ 30 million and $ 8 million for the years ended December 31, 2024, 2023 and 2022, respectively. </context> | us-gaap:ForeignCurrencyTransactionGainLossRealized |
, which combined with transaction gains and losses amounted to net losses of $ 41 million, $ 30 million and $ 8 million for the years ended December 31, 2024, 2023 and 2022, respectively. | text | 8 | monetaryItemType | text: <entity> 8 </entity> <entity type> monetaryItemType </entity type> <context> , which combined with transaction gains and losses amounted to net losses of $ 41 million, $ 30 million and $ 8 million for the years ended December 31, 2024, 2023 and 2022, respectively. </context> | us-gaap:ForeignCurrencyTransactionGainLossRealized |
We record property, plant and equipment at cost, inclusive of assets under finance leases. We depreciate the cost of the majority of our property, plant and equipment using the straight-line method with depreciable lives ranging from 20 to 40 years for buildings and 3 to 15 years for machinery, equipment and fixtures. Finance lease asset amortization is recorded in depreciation expense. We expense normal maintenance and repair costs as incurred. Depreciation expense totaled $ 729 million, $ 691 million and $ 557 million for the years ended December 31, 2024, 2023 and 2022, respectively. See NOTE 7, "PROPERTY, PLANT AND EQUIPMENT" and NOTE 8, "LEASES," for additional information. | text | 729 | monetaryItemType | text: <entity> 729 </entity> <entity type> monetaryItemType </entity type> <context> We record property, plant and equipment at cost, inclusive of assets under finance leases. We depreciate the cost of the majority of our property, plant and equipment using the straight-line method with depreciable lives ranging from 20 to 40 years for buildings and 3 to 15 years for machinery, equipment and fixtures. Finance lease asset amortization is recorded in depreciation expense. We expense normal maintenance and repair costs as incurred. Depreciation expense totaled $ 729 million, $ 691 million and $ 557 million for the years ended December 31, 2024, 2023 and 2022, respectively. See NOTE 7, "PROPERTY, PLANT AND EQUIPMENT" and NOTE 8, "LEASES," for additional information. </context> | us-gaap:Depreciation |
We record property, plant and equipment at cost, inclusive of assets under finance leases. We depreciate the cost of the majority of our property, plant and equipment using the straight-line method with depreciable lives ranging from 20 to 40 years for buildings and 3 to 15 years for machinery, equipment and fixtures. Finance lease asset amortization is recorded in depreciation expense. We expense normal maintenance and repair costs as incurred. Depreciation expense totaled $ 729 million, $ 691 million and $ 557 million for the years ended December 31, 2024, 2023 and 2022, respectively. See NOTE 7, "PROPERTY, PLANT AND EQUIPMENT" and NOTE 8, "LEASES," for additional information. | text | 691 | monetaryItemType | text: <entity> 691 </entity> <entity type> monetaryItemType </entity type> <context> We record property, plant and equipment at cost, inclusive of assets under finance leases. We depreciate the cost of the majority of our property, plant and equipment using the straight-line method with depreciable lives ranging from 20 to 40 years for buildings and 3 to 15 years for machinery, equipment and fixtures. Finance lease asset amortization is recorded in depreciation expense. We expense normal maintenance and repair costs as incurred. Depreciation expense totaled $ 729 million, $ 691 million and $ 557 million for the years ended December 31, 2024, 2023 and 2022, respectively. See NOTE 7, "PROPERTY, PLANT AND EQUIPMENT" and NOTE 8, "LEASES," for additional information. </context> | us-gaap:Depreciation |
We record property, plant and equipment at cost, inclusive of assets under finance leases. We depreciate the cost of the majority of our property, plant and equipment using the straight-line method with depreciable lives ranging from 20 to 40 years for buildings and 3 to 15 years for machinery, equipment and fixtures. Finance lease asset amortization is recorded in depreciation expense. We expense normal maintenance and repair costs as incurred. Depreciation expense totaled $ 729 million, $ 691 million and $ 557 million for the years ended December 31, 2024, 2023 and 2022, respectively. See NOTE 7, "PROPERTY, PLANT AND EQUIPMENT" and NOTE 8, "LEASES," for additional information. | text | 557 | monetaryItemType | text: <entity> 557 </entity> <entity type> monetaryItemType </entity type> <context> We record property, plant and equipment at cost, inclusive of assets under finance leases. We depreciate the cost of the majority of our property, plant and equipment using the straight-line method with depreciable lives ranging from 20 to 40 years for buildings and 3 to 15 years for machinery, equipment and fixtures. Finance lease asset amortization is recorded in depreciation expense. We expense normal maintenance and repair costs as incurred. Depreciation expense totaled $ 729 million, $ 691 million and $ 557 million for the years ended December 31, 2024, 2023 and 2022, respectively. See NOTE 7, "PROPERTY, PLANT AND EQUIPMENT" and NOTE 8, "LEASES," for additional information. </context> | us-gaap:Depreciation |
At December 31, 2024, our recorded goodwill was $ 2.4 billion, of which approximately 31 percent resided in the drivetrain and braking systems reporting unit. Changes in our projections or estimates, a deterioration of our operating results and the related cash flow effect or a significant increase in the discount rate could decrease the estimated fair value of our reporting units and result in a future impairment of goodwill. See NOTE 9, "GOODWILL AND OTHER INTANGIBLE ASSETS," for additional information. | text | 2.4 | monetaryItemType | text: <entity> 2.4 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024, our recorded goodwill was $ 2.4 billion, of which approximately 31 percent resided in the drivetrain and braking systems reporting unit. Changes in our projections or estimates, a deterioration of our operating results and the related cash flow effect or a significant increase in the discount rate could decrease the estimated fair value of our reporting units and result in a future impairment of goodwill. See NOTE 9, "GOODWILL AND OTHER INTANGIBLE ASSETS," for additional information. </context> | us-gaap:Goodwill |
Our research and development programs are focused on product improvements, product extensions, innovations and cost reductions for our customers. Research and development expenditures include salaries, contractor fees, building costs, utilities, testing, technical IT expenses, administrative expenses and allocation of corporate costs and are expensed, net of contract reimbursements, when incurred. From time to time, we enter into agreements with customers and government agencies to fund a portion of the research and development costs of a particular project. When not associated with a sales contract, we generally account for these reimbursements as an offset to the related research and development expenditure. Research and development expenses, net of contract reimbursements, were $ 1.4 billion, $ 1.4 billion and $ 1.2 billion for the years ended December 31, 2024, 2023 and 2022, respectively. Contract reimbursements were $ 72 million, $ 81 million and $ 110 million for the years ended December 31, 2024, 2023 and 2022, respectively. | text | 72 | monetaryItemType | text: <entity> 72 </entity> <entity type> monetaryItemType </entity type> <context> Our research and development programs are focused on product improvements, product extensions, innovations and cost reductions for our customers. Research and development expenditures include salaries, contractor fees, building costs, utilities, testing, technical IT expenses, administrative expenses and allocation of corporate costs and are expensed, net of contract reimbursements, when incurred. From time to time, we enter into agreements with customers and government agencies to fund a portion of the research and development costs of a particular project. When not associated with a sales contract, we generally account for these reimbursements as an offset to the related research and development expenditure. Research and development expenses, net of contract reimbursements, were $ 1.4 billion, $ 1.4 billion and $ 1.2 billion for the years ended December 31, 2024, 2023 and 2022, respectively. Contract reimbursements were $ 72 million, $ 81 million and $ 110 million for the years ended December 31, 2024, 2023 and 2022, respectively. </context> | us-gaap:ResearchAndDevelopmentArrangementContractToPerformForOthersCompensationEarned |
Our research and development programs are focused on product improvements, product extensions, innovations and cost reductions for our customers. Research and development expenditures include salaries, contractor fees, building costs, utilities, testing, technical IT expenses, administrative expenses and allocation of corporate costs and are expensed, net of contract reimbursements, when incurred. From time to time, we enter into agreements with customers and government agencies to fund a portion of the research and development costs of a particular project. When not associated with a sales contract, we generally account for these reimbursements as an offset to the related research and development expenditure. Research and development expenses, net of contract reimbursements, were $ 1.4 billion, $ 1.4 billion and $ 1.2 billion for the years ended December 31, 2024, 2023 and 2022, respectively. Contract reimbursements were $ 72 million, $ 81 million and $ 110 million for the years ended December 31, 2024, 2023 and 2022, respectively. | text | 81 | monetaryItemType | text: <entity> 81 </entity> <entity type> monetaryItemType </entity type> <context> Our research and development programs are focused on product improvements, product extensions, innovations and cost reductions for our customers. Research and development expenditures include salaries, contractor fees, building costs, utilities, testing, technical IT expenses, administrative expenses and allocation of corporate costs and are expensed, net of contract reimbursements, when incurred. From time to time, we enter into agreements with customers and government agencies to fund a portion of the research and development costs of a particular project. When not associated with a sales contract, we generally account for these reimbursements as an offset to the related research and development expenditure. Research and development expenses, net of contract reimbursements, were $ 1.4 billion, $ 1.4 billion and $ 1.2 billion for the years ended December 31, 2024, 2023 and 2022, respectively. Contract reimbursements were $ 72 million, $ 81 million and $ 110 million for the years ended December 31, 2024, 2023 and 2022, respectively. </context> | us-gaap:ResearchAndDevelopmentArrangementContractToPerformForOthersCompensationEarned |
Our research and development programs are focused on product improvements, product extensions, innovations and cost reductions for our customers. Research and development expenditures include salaries, contractor fees, building costs, utilities, testing, technical IT expenses, administrative expenses and allocation of corporate costs and are expensed, net of contract reimbursements, when incurred. From time to time, we enter into agreements with customers and government agencies to fund a portion of the research and development costs of a particular project. When not associated with a sales contract, we generally account for these reimbursements as an offset to the related research and development expenditure. Research and development expenses, net of contract reimbursements, were $ 1.4 billion, $ 1.4 billion and $ 1.2 billion for the years ended December 31, 2024, 2023 and 2022, respectively. Contract reimbursements were $ 72 million, $ 81 million and $ 110 million for the years ended December 31, 2024, 2023 and 2022, respectively. | text | 110 | monetaryItemType | text: <entity> 110 </entity> <entity type> monetaryItemType </entity type> <context> Our research and development programs are focused on product improvements, product extensions, innovations and cost reductions for our customers. Research and development expenditures include salaries, contractor fees, building costs, utilities, testing, technical IT expenses, administrative expenses and allocation of corporate costs and are expensed, net of contract reimbursements, when incurred. From time to time, we enter into agreements with customers and government agencies to fund a portion of the research and development costs of a particular project. When not associated with a sales contract, we generally account for these reimbursements as an offset to the related research and development expenditure. Research and development expenses, net of contract reimbursements, were $ 1.4 billion, $ 1.4 billion and $ 1.2 billion for the years ended December 31, 2024, 2023 and 2022, respectively. Contract reimbursements were $ 72 million, $ 81 million and $ 110 million for the years ended December 31, 2024, 2023 and 2022, respectively. </context> | us-gaap:ResearchAndDevelopmentArrangementContractToPerformForOthersCompensationEarned |
. Amounts due to the financial intermediaries reflected in accounts payable at December 31, 2024, and 2023, were $ 142 million and $ 199 million, respectively. | text | 142 | monetaryItemType | text: <entity> 142 </entity> <entity type> monetaryItemType </entity type> <context> . Amounts due to the financial intermediaries reflected in accounts payable at December 31, 2024, and 2023, were $ 142 million and $ 199 million, respectively. </context> | us-gaap:SupplierFinanceProgramObligation |
. Amounts due to the financial intermediaries reflected in accounts payable at December 31, 2024, and 2023, were $ 142 million and $ 199 million, respectively. | text | 199 | monetaryItemType | text: <entity> 199 </entity> <entity type> monetaryItemType </entity type> <context> . Amounts due to the financial intermediaries reflected in accounts payable at December 31, 2024, and 2023, were $ 142 million and $ 199 million, respectively. </context> | us-gaap:SupplierFinanceProgramObligation |
We have certain arrangements, primarily long-term maintenance agreements, construction contracts, product sales with associated performance obligations extending beyond a year, product sales with lead times extending beyond one year that are non-cancellable or for which the customer incurs a penalty for cancellation and extended warranty coverage arrangements that span a period in excess of one year. The aggregate amount of the transaction price for these contracts, excluding extended warranty coverage arrangements, at December 31, 2024, was $ 5.4 billion. We expect to recognize the related revenue of $ 2.5 billion over the next 12 months and $ 2.9 billion over periods up to 10 years. See NOTE 13,"PRODUCT WARRANTY LIABILITY," for additional disclosures on extended warranty coverage arrangements. Our other contracts generally are for a duration of less than one year, include payment terms that correspond to the timing of costs incurred when providing goods and services to our customers or represent sales-based royalties. | text | 5.4 | monetaryItemType | text: <entity> 5.4 </entity> <entity type> monetaryItemType </entity type> <context> We have certain arrangements, primarily long-term maintenance agreements, construction contracts, product sales with associated performance obligations extending beyond a year, product sales with lead times extending beyond one year that are non-cancellable or for which the customer incurs a penalty for cancellation and extended warranty coverage arrangements that span a period in excess of one year. The aggregate amount of the transaction price for these contracts, excluding extended warranty coverage arrangements, at December 31, 2024, was $ 5.4 billion. We expect to recognize the related revenue of $ 2.5 billion over the next 12 months and $ 2.9 billion over periods up to 10 years. See NOTE 13,"PRODUCT WARRANTY LIABILITY," for additional disclosures on extended warranty coverage arrangements. Our other contracts generally are for a duration of less than one year, include payment terms that correspond to the timing of costs incurred when providing goods and services to our customers or represent sales-based royalties. </context> | us-gaap:RevenueRemainingPerformanceObligation |
We have certain arrangements, primarily long-term maintenance agreements, construction contracts, product sales with associated performance obligations extending beyond a year, product sales with lead times extending beyond one year that are non-cancellable or for which the customer incurs a penalty for cancellation and extended warranty coverage arrangements that span a period in excess of one year. The aggregate amount of the transaction price for these contracts, excluding extended warranty coverage arrangements, at December 31, 2024, was $ 5.4 billion. We expect to recognize the related revenue of $ 2.5 billion over the next 12 months and $ 2.9 billion over periods up to 10 years. See NOTE 13,"PRODUCT WARRANTY LIABILITY," for additional disclosures on extended warranty coverage arrangements. Our other contracts generally are for a duration of less than one year, include payment terms that correspond to the timing of costs incurred when providing goods and services to our customers or represent sales-based royalties. | text | 2.5 | monetaryItemType | text: <entity> 2.5 </entity> <entity type> monetaryItemType </entity type> <context> We have certain arrangements, primarily long-term maintenance agreements, construction contracts, product sales with associated performance obligations extending beyond a year, product sales with lead times extending beyond one year that are non-cancellable or for which the customer incurs a penalty for cancellation and extended warranty coverage arrangements that span a period in excess of one year. The aggregate amount of the transaction price for these contracts, excluding extended warranty coverage arrangements, at December 31, 2024, was $ 5.4 billion. We expect to recognize the related revenue of $ 2.5 billion over the next 12 months and $ 2.9 billion over periods up to 10 years. See NOTE 13,"PRODUCT WARRANTY LIABILITY," for additional disclosures on extended warranty coverage arrangements. Our other contracts generally are for a duration of less than one year, include payment terms that correspond to the timing of costs incurred when providing goods and services to our customers or represent sales-based royalties. </context> | us-gaap:RevenueRemainingPerformanceObligation |
We have certain arrangements, primarily long-term maintenance agreements, construction contracts, product sales with associated performance obligations extending beyond a year, product sales with lead times extending beyond one year that are non-cancellable or for which the customer incurs a penalty for cancellation and extended warranty coverage arrangements that span a period in excess of one year. The aggregate amount of the transaction price for these contracts, excluding extended warranty coverage arrangements, at December 31, 2024, was $ 5.4 billion. We expect to recognize the related revenue of $ 2.5 billion over the next 12 months and $ 2.9 billion over periods up to 10 years. See NOTE 13,"PRODUCT WARRANTY LIABILITY," for additional disclosures on extended warranty coverage arrangements. Our other contracts generally are for a duration of less than one year, include payment terms that correspond to the timing of costs incurred when providing goods and services to our customers or represent sales-based royalties. | text | 2.9 | monetaryItemType | text: <entity> 2.9 </entity> <entity type> monetaryItemType </entity type> <context> We have certain arrangements, primarily long-term maintenance agreements, construction contracts, product sales with associated performance obligations extending beyond a year, product sales with lead times extending beyond one year that are non-cancellable or for which the customer incurs a penalty for cancellation and extended warranty coverage arrangements that span a period in excess of one year. The aggregate amount of the transaction price for these contracts, excluding extended warranty coverage arrangements, at December 31, 2024, was $ 5.4 billion. We expect to recognize the related revenue of $ 2.5 billion over the next 12 months and $ 2.9 billion over periods up to 10 years. See NOTE 13,"PRODUCT WARRANTY LIABILITY," for additional disclosures on extended warranty coverage arrangements. Our other contracts generally are for a duration of less than one year, include payment terms that correspond to the timing of costs incurred when providing goods and services to our customers or represent sales-based royalties. </context> | us-gaap:RevenueRemainingPerformanceObligation |
We recognized revenue of $ 850 million and $ 733 million in 2024 and 2023, respectively, that was included in the deferred revenue balance at the beginning of each year. | text | 850 | monetaryItemType | text: <entity> 850 </entity> <entity type> monetaryItemType </entity type> <context> We recognized revenue of $ 850 million and $ 733 million in 2024 and 2023, respectively, that was included in the deferred revenue balance at the beginning of each year. </context> | us-gaap:ContractWithCustomerLiabilityRevenueRecognized |
We recognized revenue of $ 850 million and $ 733 million in 2024 and 2023, respectively, that was included in the deferred revenue balance at the beginning of each year. | text | 733 | monetaryItemType | text: <entity> 733 </entity> <entity type> monetaryItemType </entity type> <context> We recognized revenue of $ 850 million and $ 733 million in 2024 and 2023, respectively, that was included in the deferred revenue balance at the beginning of each year. </context> | us-gaap:ContractWithCustomerLiabilityRevenueRecognized |
We have approximately $ 827 million in our investment account at December 31, 2024, that represents cumulative undistributed income in our equity investees. Dividends received from our unconsolidated equity investees were $ 308 million, $ 257 million and $ 318 million in 2024, 2023 and 2022, respectively. | text | 308 | monetaryItemType | text: <entity> 308 </entity> <entity type> monetaryItemType </entity type> <context> We have approximately $ 827 million in our investment account at December 31, 2024, that represents cumulative undistributed income in our equity investees. Dividends received from our unconsolidated equity investees were $ 308 million, $ 257 million and $ 318 million in 2024, 2023 and 2022, respectively. </context> | us-gaap:ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital |
We have approximately $ 827 million in our investment account at December 31, 2024, that represents cumulative undistributed income in our equity investees. Dividends received from our unconsolidated equity investees were $ 308 million, $ 257 million and $ 318 million in 2024, 2023 and 2022, respectively. | text | 257 | monetaryItemType | text: <entity> 257 </entity> <entity type> monetaryItemType </entity type> <context> We have approximately $ 827 million in our investment account at December 31, 2024, that represents cumulative undistributed income in our equity investees. Dividends received from our unconsolidated equity investees were $ 308 million, $ 257 million and $ 318 million in 2024, 2023 and 2022, respectively. </context> | us-gaap:ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital |
We have approximately $ 827 million in our investment account at December 31, 2024, that represents cumulative undistributed income in our equity investees. Dividends received from our unconsolidated equity investees were $ 308 million, $ 257 million and $ 318 million in 2024, 2023 and 2022, respectively. | text | 318 | monetaryItemType | text: <entity> 318 </entity> <entity type> monetaryItemType </entity type> <context> We have approximately $ 827 million in our investment account at December 31, 2024, that represents cumulative undistributed income in our equity investees. Dividends received from our unconsolidated equity investees were $ 308 million, $ 257 million and $ 318 million in 2024, 2023 and 2022, respectively. </context> | us-gaap:ProceedsFromEquityMethodInvestmentDividendsOrDistributionsReturnOfCapital |
Our manufacturing joint ventures were generally formed with customers and are primarily intended to allow us to increase our market penetration in geographic regions, reduce capital spending, streamline our supply chain management and develop technologies. Our largest manufacturing joint ventures are based in China and are included in the list below. Our engine manufacturing joint ventures are supplied by our Components segment in the same manner as it supplies our wholly-owned Engine segment and Power Systems segment manufacturing facilities. Our Components segment joint ventures and wholly-owned entities provide axles, drivelines, brakes and suspension systems for commercial diesel and natural gas applications, aftertreatment systems, turbochargers, fuel systems, valvetrain technologies, automated transmissions and electronics that are used with our engines as well as some competitors' products. The results and investments in our joint ventures in which we have 50 percent or less ownership interest (except for Eaton Cummins Automated Transmission Technologies joint venture, which is consolidated due to our majority voting interest) are included in equity, royalty and interest income from investees and investments and advances related to equity method investees in our | text | 50 | percentItemType | text: <entity> 50 </entity> <entity type> percentItemType </entity type> <context> Our manufacturing joint ventures were generally formed with customers and are primarily intended to allow us to increase our market penetration in geographic regions, reduce capital spending, streamline our supply chain management and develop technologies. Our largest manufacturing joint ventures are based in China and are included in the list below. Our engine manufacturing joint ventures are supplied by our Components segment in the same manner as it supplies our wholly-owned Engine segment and Power Systems segment manufacturing facilities. Our Components segment joint ventures and wholly-owned entities provide axles, drivelines, brakes and suspension systems for commercial diesel and natural gas applications, aftertreatment systems, turbochargers, fuel systems, valvetrain technologies, automated transmissions and electronics that are used with our engines as well as some competitors' products. The results and investments in our joint ventures in which we have 50 percent or less ownership interest (except for Eaton Cummins Automated Transmission Technologies joint venture, which is consolidated due to our majority voting interest) are included in equity, royalty and interest income from investees and investments and advances related to equity method investees in our </context> | us-gaap:EquityMethodInvestmentOwnershipPercentage |
In September 2023, our Accelera business signed an agreement to form a joint venture, Amplify Cell Technologies LLC, with Daimler Trucks and Buses US Holding LLC (Daimler Truck), PACCAR Inc. (PACCAR) and EVE Energy to accelerate and localize battery cell production and the battery supply chain in the U.S., including building a 21-gigawatt hour battery production facility in Marshall County, Mississippi. The joint venture will manufacture battery cells for electric commercial vehicles and industrial applications. The joint venture received all government approvals and began operations in May 2024, but is not expected to begin production until 2027. The joint venture meets the definition of a variable interest entity since the equity-at-risk is not currently sufficient to support the future operations of the joint venture. Accelera, Daimler Truck and PACCAR each own 30 percent of the joint venture and have two board positions, while EVE Energy owns 10 percent and has one board position. All significant decisions require majority or super-majority approval of the board. As a result, we are not the primary beneficiary of the joint venture, and the joint venture is not consolidated. We account for the joint venture using the equity method. As of December 31, 2024, we had contributed $ 211 million, and our maximum remaining required contribution to the joint venture was $ 619 million, which could be reduced by future government incentives received by the joint venture. In addition, we are required to purchase 33 percent of the joint venture's output in the future or be subject to certain penalties. | text | 30 | percentItemType | text: <entity> 30 </entity> <entity type> percentItemType </entity type> <context> In September 2023, our Accelera business signed an agreement to form a joint venture, Amplify Cell Technologies LLC, with Daimler Trucks and Buses US Holding LLC (Daimler Truck), PACCAR Inc. (PACCAR) and EVE Energy to accelerate and localize battery cell production and the battery supply chain in the U.S., including building a 21-gigawatt hour battery production facility in Marshall County, Mississippi. The joint venture will manufacture battery cells for electric commercial vehicles and industrial applications. The joint venture received all government approvals and began operations in May 2024, but is not expected to begin production until 2027. The joint venture meets the definition of a variable interest entity since the equity-at-risk is not currently sufficient to support the future operations of the joint venture. Accelera, Daimler Truck and PACCAR each own 30 percent of the joint venture and have two board positions, while EVE Energy owns 10 percent and has one board position. All significant decisions require majority or super-majority approval of the board. As a result, we are not the primary beneficiary of the joint venture, and the joint venture is not consolidated. We account for the joint venture using the equity method. As of December 31, 2024, we had contributed $ 211 million, and our maximum remaining required contribution to the joint venture was $ 619 million, which could be reduced by future government incentives received by the joint venture. In addition, we are required to purchase 33 percent of the joint venture's output in the future or be subject to certain penalties. </context> | us-gaap:EquityMethodInvestmentOwnershipPercentage |
The year ended December 31, 2024, contained net favorable discrete tax items primarily due to the $ 1.3 billion non-taxable gain on the Atmus split-off. Other discrete tax items were net favorable by $ 59 million, primarily due to $ 52 million of favorable return to provision adjustments, $ 22 million of favorable share-based compensation tax benefits, $ 21 million of favorable adjustments related to audit settlements and $ 20 million of favorable adjustments from tax return amendments, partially offset by $ 50 million of unfavorable adjustments related to Accelera strategic reorganization actions and net $ 6 million of other unfavorable adjustments. See NOTE 21, "ATMUS INITIAL PUBLIC OFFERING (IPO) AND DIVESTITURE," and NOTE 22, "ACCELERA STRATEGIC REORGANIZATION ACTIONS," for additional information. | text | 1.3 | monetaryItemType | text: <entity> 1.3 </entity> <entity type> monetaryItemType </entity type> <context> The year ended December 31, 2024, contained net favorable discrete tax items primarily due to the $ 1.3 billion non-taxable gain on the Atmus split-off. Other discrete tax items were net favorable by $ 59 million, primarily due to $ 52 million of favorable return to provision adjustments, $ 22 million of favorable share-based compensation tax benefits, $ 21 million of favorable adjustments related to audit settlements and $ 20 million of favorable adjustments from tax return amendments, partially offset by $ 50 million of unfavorable adjustments related to Accelera strategic reorganization actions and net $ 6 million of other unfavorable adjustments. See NOTE 21, "ATMUS INITIAL PUBLIC OFFERING (IPO) AND DIVESTITURE," and NOTE 22, "ACCELERA STRATEGIC REORGANIZATION ACTIONS," for additional information. </context> | us-gaap:GainLossOnSaleOfBusiness |
The year ended December 31, 2024, contained net favorable discrete tax items primarily due to the $ 1.3 billion non-taxable gain on the Atmus split-off. Other discrete tax items were net favorable by $ 59 million, primarily due to $ 52 million of favorable return to provision adjustments, $ 22 million of favorable share-based compensation tax benefits, $ 21 million of favorable adjustments related to audit settlements and $ 20 million of favorable adjustments from tax return amendments, partially offset by $ 50 million of unfavorable adjustments related to Accelera strategic reorganization actions and net $ 6 million of other unfavorable adjustments. See NOTE 21, "ATMUS INITIAL PUBLIC OFFERING (IPO) AND DIVESTITURE," and NOTE 22, "ACCELERA STRATEGIC REORGANIZATION ACTIONS," for additional information. | text | 20 | monetaryItemType | text: <entity> 20 </entity> <entity type> monetaryItemType </entity type> <context> The year ended December 31, 2024, contained net favorable discrete tax items primarily due to the $ 1.3 billion non-taxable gain on the Atmus split-off. Other discrete tax items were net favorable by $ 59 million, primarily due to $ 52 million of favorable return to provision adjustments, $ 22 million of favorable share-based compensation tax benefits, $ 21 million of favorable adjustments related to audit settlements and $ 20 million of favorable adjustments from tax return amendments, partially offset by $ 50 million of unfavorable adjustments related to Accelera strategic reorganization actions and net $ 6 million of other unfavorable adjustments. See NOTE 21, "ATMUS INITIAL PUBLIC OFFERING (IPO) AND DIVESTITURE," and NOTE 22, "ACCELERA STRATEGIC REORGANIZATION ACTIONS," for additional information. </context> | us-gaap:TaxAdjustmentsSettlementsAndUnusualProvisions |
The year ended December 31, 2023, contained unfavorable net discrete items of $ 397 million, primarily due to $ 398 million in the fourth quarter related to the $ 2.0 billion charge from the Settlement Agreements, $ 22 million of unfavorable adjustments for uncertain tax positions and $ 3 million of net unfavorable other discrete tax items, partially offset by $ 21 million of favorable return to provision adjustments and $ 5 million of favorable share-based compensation tax benefits | text | 2.0 | monetaryItemType | text: <entity> 2.0 </entity> <entity type> monetaryItemType </entity type> <context> The year ended December 31, 2023, contained unfavorable net discrete items of $ 397 million, primarily due to $ 398 million in the fourth quarter related to the $ 2.0 billion charge from the Settlement Agreements, $ 22 million of unfavorable adjustments for uncertain tax positions and $ 3 million of net unfavorable other discrete tax items, partially offset by $ 21 million of favorable return to provision adjustments and $ 5 million of favorable share-based compensation tax benefits </context> | us-gaap:LossContingencyLossInPeriod |
The year ended December 31, 2022, contained discrete tax items that netted to zero , primarily due to $ 31 million of favorable changes in accrued withholding taxes, $ 29 million of favorable changes in tax reserves, $ 15 million of favorable valuation allowance adjustments and $ 9 million of favorable other net discrete items, offset by $ 69 million of unfavorable tax costs associated with internal restructuring ahead of the planned separation of Atmus and $ 15 million of unfavorable return to provision adjustments related to the 2021 filed tax returns. | text | 29 | monetaryItemType | text: <entity> 29 </entity> <entity type> monetaryItemType </entity type> <context> The year ended December 31, 2022, contained discrete tax items that netted to zero , primarily due to $ 31 million of favorable changes in accrued withholding taxes, $ 29 million of favorable changes in tax reserves, $ 15 million of favorable valuation allowance adjustments and $ 9 million of favorable other net discrete items, offset by $ 69 million of unfavorable tax costs associated with internal restructuring ahead of the planned separation of Atmus and $ 15 million of unfavorable return to provision adjustments related to the 2021 filed tax returns. </context> | us-gaap:IncomeTaxExpenseBenefitContinuingOperationsAdjustmentOfDeferredTaxAssetLiability |
At December 31, 2024, $ 5.6 billion of non-U.S. earnings are considered indefinitely reinvested in operations outside the U.S. for which deferred taxes were not provided. Determination of the related deferred tax liability, if any, is not practicable because of the complexities associated with the hypothetical calculation. | text | 5.6 | monetaryItemType | text: <entity> 5.6 </entity> <entity type> monetaryItemType </entity type> <context> At December 31, 2024, $ 5.6 billion of non-U.S. earnings are considered indefinitely reinvested in operations outside the U.S. for which deferred taxes were not provided. Determination of the related deferred tax liability, if any, is not practicable because of the complexities associated with the hypothetical calculation. </context> | us-gaap:UndistributedEarningsOfForeignSubsidiaries |
Our 2024 U.S. carryforward benefits include $ 254 million of state credit and net operating loss carryforward benefits that begin to expire in 2025. Our foreign carryforward benefits include $ 653 million of net operating loss carryforwards that begin to expire in 2025. A valuation allowance is recorded to reduce the gross deferred tax assets to an amount we believe is more likely than not to be realized. The valuation allowance at December 31, 2024 was $ 872 million and increased by a net $ 83 million. The valuation allowance at December 31, 2023 was $ 789 million and increased by a net $ 85 million. The valuation allowance at December 31, 2022 was $ 704 million and increased by a net $ 344 million, primarily due to the Meritor acquisition. The valuation allowance is primarily attributable to the uncertainty regarding the realization of a portion of the U.S. state and foreign net operating loss and tax credit carryforward benefits. | text | 254 | monetaryItemType | text: <entity> 254 </entity> <entity type> monetaryItemType </entity type> <context> Our 2024 U.S. carryforward benefits include $ 254 million of state credit and net operating loss carryforward benefits that begin to expire in 2025. Our foreign carryforward benefits include $ 653 million of net operating loss carryforwards that begin to expire in 2025. A valuation allowance is recorded to reduce the gross deferred tax assets to an amount we believe is more likely than not to be realized. The valuation allowance at December 31, 2024 was $ 872 million and increased by a net $ 83 million. The valuation allowance at December 31, 2023 was $ 789 million and increased by a net $ 85 million. The valuation allowance at December 31, 2022 was $ 704 million and increased by a net $ 344 million, primarily due to the Meritor acquisition. The valuation allowance is primarily attributable to the uncertainty regarding the realization of a portion of the U.S. state and foreign net operating loss and tax credit carryforward benefits. </context> | us-gaap:DeferredTaxAssetsStateTaxes |
Our 2024 U.S. carryforward benefits include $ 254 million of state credit and net operating loss carryforward benefits that begin to expire in 2025. Our foreign carryforward benefits include $ 653 million of net operating loss carryforwards that begin to expire in 2025. A valuation allowance is recorded to reduce the gross deferred tax assets to an amount we believe is more likely than not to be realized. The valuation allowance at December 31, 2024 was $ 872 million and increased by a net $ 83 million. The valuation allowance at December 31, 2023 was $ 789 million and increased by a net $ 85 million. The valuation allowance at December 31, 2022 was $ 704 million and increased by a net $ 344 million, primarily due to the Meritor acquisition. The valuation allowance is primarily attributable to the uncertainty regarding the realization of a portion of the U.S. state and foreign net operating loss and tax credit carryforward benefits. | text | 653 | monetaryItemType | text: <entity> 653 </entity> <entity type> monetaryItemType </entity type> <context> Our 2024 U.S. carryforward benefits include $ 254 million of state credit and net operating loss carryforward benefits that begin to expire in 2025. Our foreign carryforward benefits include $ 653 million of net operating loss carryforwards that begin to expire in 2025. A valuation allowance is recorded to reduce the gross deferred tax assets to an amount we believe is more likely than not to be realized. The valuation allowance at December 31, 2024 was $ 872 million and increased by a net $ 83 million. The valuation allowance at December 31, 2023 was $ 789 million and increased by a net $ 85 million. The valuation allowance at December 31, 2022 was $ 704 million and increased by a net $ 344 million, primarily due to the Meritor acquisition. The valuation allowance is primarily attributable to the uncertainty regarding the realization of a portion of the U.S. state and foreign net operating loss and tax credit carryforward benefits. </context> | us-gaap:DeferredTaxAssetsOperatingLossCarryforwardsForeign |
Our 2024 U.S. carryforward benefits include $ 254 million of state credit and net operating loss carryforward benefits that begin to expire in 2025. Our foreign carryforward benefits include $ 653 million of net operating loss carryforwards that begin to expire in 2025. A valuation allowance is recorded to reduce the gross deferred tax assets to an amount we believe is more likely than not to be realized. The valuation allowance at December 31, 2024 was $ 872 million and increased by a net $ 83 million. The valuation allowance at December 31, 2023 was $ 789 million and increased by a net $ 85 million. The valuation allowance at December 31, 2022 was $ 704 million and increased by a net $ 344 million, primarily due to the Meritor acquisition. The valuation allowance is primarily attributable to the uncertainty regarding the realization of a portion of the U.S. state and foreign net operating loss and tax credit carryforward benefits. | text | 872 | monetaryItemType | text: <entity> 872 </entity> <entity type> monetaryItemType </entity type> <context> Our 2024 U.S. carryforward benefits include $ 254 million of state credit and net operating loss carryforward benefits that begin to expire in 2025. Our foreign carryforward benefits include $ 653 million of net operating loss carryforwards that begin to expire in 2025. A valuation allowance is recorded to reduce the gross deferred tax assets to an amount we believe is more likely than not to be realized. The valuation allowance at December 31, 2024 was $ 872 million and increased by a net $ 83 million. The valuation allowance at December 31, 2023 was $ 789 million and increased by a net $ 85 million. The valuation allowance at December 31, 2022 was $ 704 million and increased by a net $ 344 million, primarily due to the Meritor acquisition. The valuation allowance is primarily attributable to the uncertainty regarding the realization of a portion of the U.S. state and foreign net operating loss and tax credit carryforward benefits. </context> | us-gaap:DeferredTaxAssetsValuationAllowance |
Our 2024 U.S. carryforward benefits include $ 254 million of state credit and net operating loss carryforward benefits that begin to expire in 2025. Our foreign carryforward benefits include $ 653 million of net operating loss carryforwards that begin to expire in 2025. A valuation allowance is recorded to reduce the gross deferred tax assets to an amount we believe is more likely than not to be realized. The valuation allowance at December 31, 2024 was $ 872 million and increased by a net $ 83 million. The valuation allowance at December 31, 2023 was $ 789 million and increased by a net $ 85 million. The valuation allowance at December 31, 2022 was $ 704 million and increased by a net $ 344 million, primarily due to the Meritor acquisition. The valuation allowance is primarily attributable to the uncertainty regarding the realization of a portion of the U.S. state and foreign net operating loss and tax credit carryforward benefits. | text | 83 | monetaryItemType | text: <entity> 83 </entity> <entity type> monetaryItemType </entity type> <context> Our 2024 U.S. carryforward benefits include $ 254 million of state credit and net operating loss carryforward benefits that begin to expire in 2025. Our foreign carryforward benefits include $ 653 million of net operating loss carryforwards that begin to expire in 2025. A valuation allowance is recorded to reduce the gross deferred tax assets to an amount we believe is more likely than not to be realized. The valuation allowance at December 31, 2024 was $ 872 million and increased by a net $ 83 million. The valuation allowance at December 31, 2023 was $ 789 million and increased by a net $ 85 million. The valuation allowance at December 31, 2022 was $ 704 million and increased by a net $ 344 million, primarily due to the Meritor acquisition. The valuation allowance is primarily attributable to the uncertainty regarding the realization of a portion of the U.S. state and foreign net operating loss and tax credit carryforward benefits. </context> | us-gaap:ValuationAllowanceDeferredTaxAssetChangeInAmount |
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