Tyson Foods 2014 Annual Report Download - page 63

NOTE 4: DISCONTINUED OPERATION
After conducting an assessment during fiscal 2013 of our long-term business strategy in China, we determined our Weifang operation
(Weifang), which was previously part of our Chicken segment, was no longer core to the execution of our strategy given the capital investment
it required to execute our future business plan. Consequently, we conducted an impairment test and recorded a $56 million impairment charge
in the second quarter of fiscal 2013. We subsequently sold Weifang which resulted in reporting it as a discontinued operation. The sale was
completed in July 2013 and did not result in a significant gain or loss as its carrying value approximated the sales proceeds at the time of sale.
Weifang's prior periods results, including the impairment charge, have been reclassified and presented as a discontinued operation in our
Consolidated Statements of Income. The following is a summary of the discontinued operation's results:
NOTE 5: PROPERTY, PLANT AND EQUIPMENT
The following table reflects major categories of property, plant and equipment and accumulated depreciation at September 27, 2014 , and
September 28, 2013 :
Approximately $661 million will be required to complete buildings and equipment under construction at September 27, 2014 .
55
in millions
2014
2013
2012
Sales
$
—
$
108
$
223
Pretax loss — (
68
)
(38
)
Income tax expense —
2
—
Loss from discontinued operation, net of tax
$
—
$
(
70
)
$
(38
)
in millions
2014
2013
Land
$
126
$
100
Building and leasehold improvements
3,501
2,945
Machinery and equipment
6,144
5,504
Land improvements and other
276
417
Buildings and equipment under construction
334
236
10,381
9,202
Less accumulated depreciation
5,251
5,149
Net property, plant and equipment
$
5,130
$
4,053