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Pilgrims Pride Corp. – ‘10-K’ for 12/26/21 – ‘EX-31.2’

On:  Friday, 2/18/22, at 12:50pm ET   ·   For:  12/26/21   ·   Accession #:  802481-22-12   ·   File #:  1-09273

Previous ‘10-K’:  ‘10-K/A’ on 2/16/21 for 12/27/20   ·   Next:  ‘10-K/A’ on 3/15/22 for 12/26/21   ·   Latest:  ‘10-K’ on 2/27/24 for 12/31/23   ·   21 References:   

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  As Of               Filer                 Filing    For·On·As Docs:Size

 2/18/22  Pilgrims Pride Corp.              10-K       12/26/21  131:23M

Annual Report   —   Form 10-K

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Annual Report                                       HTML   2.19M 
 2: EX-4.9      Instrument Defining the Rights of Security Holders  HTML     52K 
 3: EX-21.1     Subsidiaries List                                   HTML     44K 
 4: EX-23.1     Consent of Expert or Counsel                        HTML     33K 
 5: EX-31.1     Certification -- §302 - SOA'02                      HTML     38K 
 6: EX-31.2     Certification -- §302 - SOA'02                      HTML     38K 
 7: EX-32.1     Certification -- §906 - SOA'02                      HTML     34K 
 8: EX-32.2     Certification -- §906 - SOA'02                      HTML     34K 
14: R1          Cover                                               HTML     98K 
15: R2          Audit Information                                   HTML     39K 
16: R3          Consolidated Balance Sheets                         HTML    164K 
17: R4          Consolidated Balance Sheets (Parenthetical)         HTML     45K 
18: R5          Consolidated Statements of Income                   HTML    130K 
19: R6          Consolidated Statements of Comprehensive Income     HTML    107K 
20: R7          Consolidated Statements of Stockholders' Equity     HTML     95K 
21: R8          Consolidated Statements of Stockholders' Equity     HTML     39K 
                (Parenthetical)                                                  
22: R9          Consolidated Statements of Cash Flows               HTML    141K 
23: R10         General                                             HTML    116K 
24: R11         Business Acquisitions                               HTML     81K 
25: R12         Revenue Recognition                                 HTML     77K 
26: R13         Leases                                              HTML    143K 
27: R14         Derivative Financial Instruments                    HTML    101K 
28: R15         Trade Accounts and Other Receivables                HTML     47K 
29: R16         Inventories                                         HTML     43K 
30: R17         Investments in Securities                           HTML     45K 
31: R18         Goodwill and Intangible Assets                      HTML    111K 
32: R19         Property, Plant and Equipment                       HTML     52K 
33: R20         Current Liabilities                                 HTML     60K 
34: R21         Income Taxes                                        HTML    125K 
35: R22         Debt                                                HTML     86K 
36: R23         Stockholders' Equity                                HTML     96K 
37: R24         Pension and Other Postretirement Benefits           HTML    286K 
38: R25         Incentive Compensation                              HTML    184K 
39: R26         Fair Value Measurements                             HTML     87K 
40: R27         Related Party Transactions                          HTML    110K 
41: R28         Reportable Segments                                 HTML    152K 
42: R29         Commitments and Contingencies                       HTML     71K 
43: R30         Market Risks and Concentrations                     HTML     39K 
44: R31         Schedule Ii Valuation and Qualifying Accounts       HTML     72K 
45: R32         Business and Summary of Significant Accounting      HTML    166K 
                Policies (Policies)                                              
46: R33         Business and Summary of Significant Accounting      HTML     49K 
                Policies (Tables)                                                
47: R34         Business Acquisitions (Tables)                      HTML     56K 
48: R35         Revenue Recognition (Tables)                        HTML     71K 
49: R36         Leases (Tables)                                     HTML    104K 
50: R37         Derivative Financial Instruments (Tables)           HTML     96K 
51: R38         Trade Accounts and Other Receivables (Tables)       HTML     47K 
52: R39         Inventories (Tables)                                HTML     44K 
53: R40         Investments in Securities (Tables)                  HTML     43K 
54: R41         Goodwill and Intangible Assets (Tables)             HTML    112K 
55: R42         Property, Plant and Equipment (Tables)              HTML     48K 
56: R43         Current Liabilities (Tables)                        HTML     60K 
57: R44         Income Taxes (Tables)                               HTML    125K 
58: R45         Debt (Tables)                                       HTML     61K 
59: R46         Stockholders' Equity (Tables)                       HTML     92K 
60: R47         Pension and Other Postretirement Benefits (Tables)  HTML    280K 
61: R48         Incentive Compensation (Tables)                     HTML    184K 
62: R49         Fair Value Measurements (Tables)                    HTML     80K 
63: R50         Related Party Transactions (Tables)                 HTML    108K 
64: R51         Reportable Segments (Tables)                        HTML    149K 
65: R52         BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING      HTML     74K 
                POLICIES - Narrative (Details)                                   
66: R53         BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING      HTML     44K 
                POLICIES - Cash, Cash Equivalents and Restricted                 
                Cash (Details)                                                   
67: R54         BUSINESS ACQUISITIONS - Narrative (Details)         HTML    119K 
68: R55         BUSINESS ACQUISITIONS - Pilgrim?s Food Masters      HTML     81K 
                Preliminary Fair Values for Assets Acquired and                  
                Liabilities Assumed (Details)                                    
69: R56         BUSINESS ACQUISITIONS - Pro Forma Information       HTML     42K 
                (Details)                                                        
70: R57         BUSINESS ACQUISITIONS - Tulip Fair Values of        HTML     79K 
                Assets Acquired and Liabilities Assumed (Details)                
71: R58         REVENUE RECOGNITION - Disaggregated Revenue         HTML     69K 
                (Details)                                                        
72: R59         REVENUE RECOGNITION - Change in Revenue Contract    HTML     41K 
                Liability (Details)                                              
73: R60         LEASES - Narrative (Details)                        HTML     45K 
74: R61         LEASES - Components of Lease Expense (Details)      HTML     48K 
75: R62         LEASES - Weighted Average Lease Term and Discount   HTML     45K 
                Rate (Details)                                                   
76: R63         LEASES - Supplemental Cash Flow Information         HTML     46K 
                (Details)                                                        
77: R64         LEASES - Future Minimum Lease Payments on           HTML     74K 
                Non-cancellable Leases (Details)                                 
78: R65         LEASES - Lease Liabilities (Details)                HTML     53K 
79: R66         DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of      HTML     59K 
                Outstanding Derivative Instruments and Cash                      
                Collateral (Details)                                             
80: R67         DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of      HTML     43K 
                Derivative Gains (Losses) and Location of Income                 
                Expense (Details)                                                
81: R68         DERIVATIVE FINANCIAL INSTRUMENTS - Schedule of      HTML     46K 
                Cash Flow Hedges Included in AOCI (Details)                      
82: R69         DERIVATIVE FINANCIAL INSTRUMENTS - Income and       HTML     64K 
                Expense Line item in the Condensed Consolidated                  
                Statements of Income (Details)                                   
83: R70         DERIVATIVE FINANCIAL INSTRUMENTS - Narrative        HTML     39K 
                (Details)                                                        
84: R71         Trade Accounts and Other Receivables (Details)      HTML     51K 
85: R72         Inventories (Details)                               HTML     47K 
86: R73         Investments in Securities (Details)                 HTML     43K 
87: R74         GOODWILL AND INTANGIBLE ASSETS - Schedule of        HTML     50K 
                Goodwill by Segment (Details)                                    
88: R75         GOODWILL AND INTANGIBLE ASSETS - Schedule of        HTML     84K 
                Intangible Assets (Details)                                      
89: R76         GOODWILL AND INTANGIBLE ASSETS - Narrative          HTML     49K 
                (Details)                                                        
90: R77         GOODWILL AND INTANGIBLE ASSETS - Useful Life of     HTML     45K 
                Assets (Details)                                                 
91: R78         PROPERTY, PLANT AND EQUIPMENT - Schedule of         HTML     60K 
                Property, Plant and Equipment (Details)                          
92: R79         PROPERTY, PLANT AND EQUIPMENT - Narrative           HTML     61K 
                (Details)                                                        
93: R80         Current Liabilities (Details)                       HTML     83K 
94: R81         INCOME TAXES - Income Before Income Taxes by        HTML     44K 
                Jurisdiction (Details)                                           
95: R82         INCOME TAXES - Components of Income Tax Expense     HTML     62K 
                (Benefit) (Details)                                              
96: R83         INCOME TAXES - Narrative (Details)                  HTML     89K 
97: R84         INCOME TAXES - Schedule of Income Tax               HTML     68K 
                Reconciliation (Details)                                         
98: R85         INCOME TAXES - Schedule of Deferred Tax Assets and  HTML     81K 
                Liabilities (Details)                                            
99: R86         INCOME TAXES - Schedule of Unrecognized Tax         HTML     44K 
                Benefits (Details)                                               
100: R87         DEBT - Schedule of Long-term Debt and Other         HTML     96K  
                Borrowing Arrangements (Details)                                 
101: R88         DEBT - Narrative (Details)                          HTML    179K  
102: R89         STOCKHOLDERS' EQUITY - Schedule of Changes in       HTML     83K  
                Accumulated Other Comprehensive Loss (Details)                   
103: R90         STOCKHOLDERS' EQUITY - Schedule of                  HTML     80K  
                Reclassification from Accumulated Other                          
                Comprehensive Loss (Details)                                     
104: R91         STOCKHOLDERS' EQUITY - Narrative (Details)          HTML     46K  
105: R92         PENSION AND OTHER POSTRETIREMENT BENEFITS -         HTML     88K  
                Narrative (Details)                                              
106: R93         PENSION AND OTHER POSTRETIREMENT BENEFITS -         HTML    107K  
                Schedule of Defined Benefit Plan Obligations and                 
                Assets (Details)                                                 
107: R94         PENSION AND OTHER POSTRETIREMENT BENEFITS -         HTML     61K  
                Schedule of Net Periodic Benefit Cost (Income)                   
                (Details)                                                        
108: R95         PENSION AND OTHER POSTRETIREMENT BENEFITS -         HTML     53K  
                Schedule of Economic Assumptions, and Impact of                  
                Change in Discount Rate on Benefit Obligation                    
                (Details)                                                        
109: R96         PENSION AND OTHER POSTRETIREMENT BENEFITS -         HTML     55K  
                Schedule of Plan Asset Allocations (Details)                     
110: R97         PENSION AND OTHER POSTRETIREMENT BENEFITS -         HTML    119K  
                Schedule of Fair Value Measurements of Plan Assets               
                (Details)                                                        
111: R98         PENSION AND OTHER POSTRETIREMENT BENEFITS -         HTML     54K  
                Schedule of Benefit Payments (Details)                           
112: R99         PENSION AND OTHER POSTRETIREMENT BENEFITS -         HTML     62K  
                Schedule of Unrecognized Benefit Amounts (Details)               
113: R100        INCENTIVE COMPENSATION - Narrative (Details)        HTML     58K  
114: R101        INCENTIVE COMPENSATION - Schedule of Awards         HTML    186K  
                (Details)                                                        
115: R102        INCENTIVE COMPENSATION - Schedule of Compensation   HTML     51K  
                Cost and Income Tax Benefit (Details)                            
116: R103        INCENTIVE COMPENSATION - Schedule of Restricted     HTML     72K  
                Stock Unit Activity (Details)                                    
117: R104        FAIR VALUE MEASUREMENTS - Schedule of Assets and    HTML     63K  
                Liabilities Measured on a Recurring Basis                        
                (Details)                                                        
118: R105        FAIR VALUE MEASUREMENTS - Schedule of Carrying      HTML     66K  
                Amounts and Estimated Fair Values of Fixed-Rate                  
                Debt Obligation (Details)                                        
119: R106        FAIR VALUE MEASUREMENTS - Narrative (Details)       HTML     39K  
120: R107        RELATED PARTY TRANSACTIONS - Schedule of Related    HTML     90K  
                Party Transactions (Details)                                     
121: R108        REPORTABLE SEGMENTS -Narrative (Details)            HTML     35K  
122: R109        REPORTABLE SEGMENTS - Schedule of Net Sales,        HTML    127K  
                Operating Income, Depreciation and Amortization,                 
                Capital Expenditures, Assets, Customer Location                  
                and Long-lived Assets (Details)                                  
123: R110        REPORTABLE SEGMENTS - Schedule of Sales by Product  HTML     72K  
                Lines and Markets (Details)                                      
124: R111        Commitments and Contingencies (Details)             HTML     96K  
125: R112        Market Risks and Concentrations (Details)           HTML     57K  
126: R113        Schedule Ii Valuation and Qualifying Accounts       HTML     53K  
                (Details)                                                        
129: XML         IDEA XML File -- Filing Summary                      XML    244K  
127: XML         XBRL Instance -- ppc-20211226_htm                    XML   6.14M  
128: EXCEL       IDEA Workbook of Financial Reports                  XLSX    213K  
10: EX-101.CAL  XBRL Calculations -- ppc-20211226_cal                XML    401K 
11: EX-101.DEF  XBRL Definitions -- ppc-20211226_def                 XML   1.29M 
12: EX-101.LAB  XBRL Labels -- ppc-20211226_lab                      XML   3.08M 
13: EX-101.PRE  XBRL Presentations -- ppc-20211226_pre               XML   1.93M 
 9: EX-101.SCH  XBRL Schema -- ppc-20211226                          XSD    305K 
130: JSON        XBRL Instance as JSON Data -- MetaLinks              735±  1.06M  
131: ZIP         XBRL Zipped Folder -- 0000802481-22-000012-xbrl      Zip   1.06M  


‘EX-31.2’   —   Certification — §302 – SOA’02


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EXHIBIT 31.2
CERTIFICATION BY PRINCIPAL EXECUTIVE OFFICER
PURSUANT TO 18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO SECTION 302
OF THE SARBANES-OXLEY ACT OF 2002
I, Matthew Galvanoni, certify that:
1.I have reviewed this annual report on Form 10-K for the year ended December 26, 2021, of Pilgrim's Pride Corporation;
2.Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;
3.Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;
4.The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:
a.Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;
b.Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;
c.Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and
d.Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and
5.The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):
a.All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and
b.Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.
Date: February 18, 2022/s/ Matthew Galvanoni
Matthew Galvanoni
Principal Financial Officer


Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing    Date    Other Filings
Filed on:2/18/228-K,  SC 13D/A
For Period end:12/26/2110-K/A
 List all Filings 


4 Subsequent Filings that Reference this Filing

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 2/27/24  Pilgrim’s Pride Corp.             10-K       12/31/23  137:21M
 2/09/23  Pilgrim’s Pride Corp.             10-K       12/25/22  136:21M
 1/19/23  Pilgrim’s Pride Corp.             424B3                  1:567K                                   Donnelley … Solutions/FA
12/23/22  Pilgrim’s Pride Corp.             S-4                   16:2.4M                                   Donnelley … Solutions/FA


17 Previous Filings that this Filing References

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

10/28/21  Pilgrim’s Pride Corp.             10-Q        9/26/21  100:17M
 9/02/21  Pilgrim’s Pride Corp.             8-K:1,2,7,9 9/02/21   12:43M
 8/11/21  Pilgrim’s Pride Corp.             8-K:1,2,9   8/11/21    2:1M                                     White & Case LLP/FA
 7/29/21  Pilgrim’s Pride Corp.             10-Q        6/27/21   96:45M
 5/03/21  Pilgrim’s Pride Corp.             8-K:5,9     4/28/21   14:15M
 4/29/21  Pilgrim’s Pride Corp.             10-Q        3/28/21   95:13M
 4/09/21  Pilgrim’s Pride Corp.             8-K:1,2,7,9 4/08/21   14:44M
 3/13/20  Pilgrim’s Pride Corp.             S-8         3/13/20    4:7.7M
 2/21/20  Pilgrim’s Pride Corp.             10-K       12/29/19  141:47M
12/20/18  Pilgrim’s Pride Corp.             8-K:1,2,9  12/19/18    2:7.9M
 6/12/18  Pilgrim’s Pride Corp.             8-K:1,2,9   6/11/18    2:24M
10/03/17  Pilgrim’s Pride Corp.             8-K:1,2,7,9 9/26/17    4:731K                                   Donnelley … Solutions/FA
 9/11/17  Pilgrim’s Pride Corp.             8-K:1,2,5,7 9/06/17    7:7.4M                                   Donnelley … Solutions/FA
12/27/12  Pilgrim’s Pride Corp.             8-A12B                 4:375K                                   DG3/FA
 9/10/12  Pilgrim’s Pride Corp.             8-K:5       9/06/12    3:97K
12/30/09  Pilgrim’s Pride Corp.             8-K:5,9    12/28/09    3:373K
12/29/09  Pilgrim’s Pride Corp.             8-K:1,2,3,512/28/09    4:2.2M
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