Contractual Obligations and Commercial Commitments Off-Balance Sheet Arrangements Forward-Looking Statements 26 The following table outlines the Company’s future contractual financial obligations as of October 26, 2014 (for additional informa- tion regarding these obligations, see Note H “Long-term Debt and Other Borrowing Arrangements” and Note K “Commitments  and Contingencies”): In addition to the commitments set forth in the above table, at  October 26, 2014, the Company had $41.7 million in standby  letters of credit issued on behalf of the Company. The standby  letters of credit are primarily related to the Company’s self-in- sured workers compensation programs. The Company believes its financial resources, including a  revolving credit facility for $300.0 million and anticipated  funds from operations, will be adequate to meet all current  commitments. amount also includes revocable standby letters of credit total- ing $3.5 million for obligations of an affiliated party that may  arise under workers compensation claims. Letters of credit  are not reflected in the Company’s Consolidated Statements of  Financial Position. This report contains “forward-looking” information within the  meaning of the federal securities laws. The “forward-looking”  information may include statements concerning the Company’s  outlook for the future as well as other statements of beliefs,  future plans, strategies, or anticipated events and similar  expressions concerning matters that are not historical facts. As of October 26, 2014, the Company had $41.7 million of  standby letters of credit issued on its behalf. The standby  letters of credit are primarily related to the Company’s  self-insured workers compensation programs. However, that  (6)  As discussed in Note J “Income Taxes,” the total liability for unrecognized tax benefits, including interest and penalties, at October 26, 2014, was  $25.4 million, which is not included in the table above as the ultimate amount or timing of settlement of the Company’s reserves for income taxes  cannot be reasonably estimated. (5)  Other long-term liabilities represent payments under the Company’s deferred compensation plans. Excluded from the table above are payments  under the Company’s defined benefit pension and other post-retirement benefit plans. (See estimated benefit payments for the next ten fiscal  years in Note I “Pension and Other Post-retirement Benefits.”) (4)  Amounts presented for capital expenditures represent only the Company’s current commitments to complete construction in progress at various  locations. The Company estimates total capital expenditures for fiscal year 2015 to be approximately $180.0 million to $200.0 million. (3)  Amounts presented for other purchase obligations represent all known open purchase orders and all known contracts exceeding $1.0 million,  related to the procurement of materials, supplies, and various services. The Company primarily purchases goods and services on an as-needed  basis. Therefore, the amounts in the table represent only a portion of expected future cash expenditures. (2)  The Company also utilizes grow-out contracts with independent farmers to raise turkeys for the Company. Under these contracts, the turkeys,  feed, and other supplies are owned by the Company. The farmers provide the required labor and facilities, and receive a fee per pound when the  turkeys are delivered. Some of the facilities are sub-leased by the Company to the independent farmers. As of October 26, 2014, the Company  had approximately 100 active contracts ranging from two to twenty-five years in duration. The grow-out activity is assumed to continue through  the term of these active contracts, and amounts in the table represent the Company’s obligation based on turkeys expected to be delivered from  these farmers. (1)  In the normal course of business, the Company commits to purchase fixed quantities of livestock and grain from producers to ensure a steady  supply of production inputs. Certain of these contracts are based on market prices at the time of delivery, for which the Company has estimated  the purchase commitment using current market prices as of October 26, 2014. The Company also utilizes various hedging programs to manage  the price risk associated with these commitments. As of October 26, 2014, these hedging programs result in a net decrease of $3.5 million in  future cash payments associated with the purchase commitments, which is not reflected in the table above. Payments Due by Periods Less Than  More Than  Contractual Obligations (in thousands) Total  1 Year  1-3 Years  3-5 Years  5 Years Purchase obligations: Hog and turkey commitments (1) $5,443,124  $1,786,899  $1,740,090  $1,166,353  $ 749,782 Grain commitments (1) 40,348  39,501  847  –  – Turkey grow-out contracts (2) 67,989  9,247  13,791  12,542  32,409 Other (3) 535,243  403,459  57,690  64,075  10,019 Long-term debt  250,000  –  –  –  250,000 Interest payments on long-term debt  67,031  10,313  20,625  20,625  15,468 Capital expenditures (4) 91,321  91,321  –  –  – Leases  19,994  9,387  6,737  2,251  1,619 Other long-term liabilities (5) (6) 62,156  4,918  9,362  6,936  40,940 Total Contractual Cash Obligations  $6,577,206  $2,355,045  $1,849,142  $1,272,782  $1,100,237