Tyson Foods 2015 Annual Report Download - page 59
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Please find page 59 of the 2015 Tyson Foods annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.NOTE 4: DISCONTINUED OPERATION
Afterconductinganassessmentduringfiscal2013ofourlong-termbusinessstrategyinChina,wedeterminedourWeifangoperation(Weifang),whichisincluded
inOtherinNote17:SegmentReporting,wasnolongercoretotheexecutionofourstrategygiventhecapitalinvestmentitrequiredtoexecuteourfuturebusiness
plan.Consequently,weconductedanimpairmenttestandrecordeda$56millionimpairmentchargeinthesecondquarteroffiscal2013.Wesubsequentlysold
Weifangwhichresultedinreportingitasadiscontinuedoperationbasedontheaccountingguidanceineffectatthattime.ThesalewascompletedinJuly2013and
didnotresultinasignificantgainorlossasitscarryingvalueapproximatedthesalesproceedsatthetimeofsale.Weifang'spriorperiod'sresults,includingthe
impairmentcharge,havebeenreclassifiedandpresentedasadiscontinuedoperationinourConsolidatedStatementsofIncome.Thefollowingisasummaryofthe
discontinuedoperation'sresults:
inmillions
2015
2014
2013
Sales
$ —
$ —
$ 108
Pretaxloss
—
—
(68)
Incometaxexpense
—
—
2
Lossfromdiscontinuedoperation,netoftax
$ —
$ —
$ (70)
NOTE 5: PROPERTY, PLANT AND EQUIPMENT
Thefollowingtablereflectsmajorcategoriesofproperty,plantandequipmentandaccumulateddepreciationatOctober3,2015,andSeptember27,2014:
inmillions
2015
2014
Land $ 122
$ 126
Buildingandleaseholdimprovements 3,581
3,501
Machineryandequipment 6,452
6,144
Landimprovementsandother 286
276
Buildingsandequipmentunderconstruction 375
334
10,816
10,381
Lessaccumulateddepreciation 5,640
5,251
Netproperty,plantandequipment $ 5,176
$ 5,130
Approximately$565millionwillberequiredtocompletebuildingsandequipmentunderconstructionatOctober3,2015.
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