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Tyson Foods, Inc. (NYSE: TSN), founded in
1935 with headquarters in Springdale, Arkansas, is the
world’s largest processor and marketer of chicken, beef and pork, the
second-largest food production company in the Fortune 500 and a member of
the S&P 500. The Company produces a wide variety of protein-based and prepared
food products, which are marketed under the “Powered by Tyson™” strategy. Tyson is the
recognized market leader in the retail and foodservice markets it serves, providing products
and service to customers throughout the United States and more than 80 countries. The
company has approximately 107,000 Team Members employed at more than 300 facilities and
offices in the United States and around the world. Through its Core Values, Code of Conduct
and Team Member Bill of Rights, Tyson strives to operate with integrity and trust and is
committed to creating value for its shareholders, customers and Team Members. The
Company also strives to be faith-friendly, provide a safe work environment and
serve as stewards of the animals, land and environment entrusted to it.
Our vision is to be the world’s first choice for protein solutions
while maximizing shareholder value.
2006 Financial Highlights
TYSON FOODS, INC. 2006 ANNUAL REPORT
in millions, except per share data 2006 2005 2004
Sales $25,559 $26,014 $26,441
Gross profit 928 1,720 1,883
Operating income (loss) (77) 745 917
Income tax expense (benefit) (102) 156 232
Cumulative effect of change in accounting
principle, net of tax (5) – –
Net income (loss) (196) 372 403
Diluted earnings (loss) per share(0.58) 1.04 1.13
Shareholders’ equity 4,440 4,671 4,292
Book value per share12.51 13.19 12.19
Total assets 11,121 10,504 10,464
Depreciation and amortization 517 501 490
Total debt 3,979 2,995 3,362
Cash provided by operating activities 287 999 932
Capital expenditures $531 $ 571 $ 486
Year end shares outstanding 355 355 353
Diluted average shares outstanding 345 357 357
Contents
1Letter to Shareholders
2Food for Thought
Q&A with Tyson’s new President and
CEO Dick Bond
4Appetite for Change
Tyson Foods is reinventing itself
through innovation, creativity
and agility.
7A Taste of What’s to Come
Tyson is creating products to meet
consumers’ needs and solve their
mealtime dilemmas.
9Financial Contents