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As Of Filer Filing For·On·As Docs:Size 4/29/21 Pilgrims Pride Corp. 10-Q 3/28/21 95:13M |
Document/Exhibit Description Pages Size 1: 10-Q Quarterly Report HTML 1.15M 2: EX-10.1 Material Contract HTML 34K 3: EX-31.1 Certification -- §302 - SOA'02 HTML 31K 4: EX-31.2 Certification -- §302 - SOA'02 HTML 31K 5: EX-32.1 Certification -- §906 - SOA'02 HTML 26K 6: EX-32.2 Certification -- §906 - SOA'02 HTML 27K 13: R1 Cover Page HTML 78K 14: R2 Consolidated Consolidated Balance Sheets HTML 135K (Unaudited) 15: R3 Condensed Consolidated Statements of Income HTML 103K (Unaudited) 16: R4 Condensed Consolidated Statements of Comprehensive HTML 88K Income (Loss) (Unaudited) 17: R5 Condensed Consolidated Statements of Stockholders' HTML 72K Equity (Unaudited) 18: R6 Condensed Consolidated Statements of Cash Flows HTML 110K (Unaudited) 19: R7 General HTML 50K 20: R8 Revenue Recognition HTML 79K 21: R9 Derivative Financial Instruments HTML 79K 22: R10 Trade Accounts and Other Receivables HTML 45K 23: R11 Inventories HTML 35K 24: R12 Investments in Securities HTML 36K 25: R13 Goodwill and Intangible Assets HTML 67K 26: R14 Property, Plant and Equipment HTML 42K 27: R15 Current Liabilities HTML 51K 28: R16 Income Taxes HTML 32K 29: R17 Debt HTML 65K 30: R18 Stockholders' Equity HTML 84K 31: R19 Pension and Other Postretirement Benefits HTML 252K 32: R20 Stock-Based Compensation HTML 29K 33: R21 Fair Value Measurements HTML 66K 34: R22 Related Party Transactions HTML 80K 35: R23 Reportable Segments HTML 73K 36: R24 Commitments and Contingencies HTML 56K 37: R25 General (Policies) HTML 48K 38: R26 General (Tables) HTML 42K 39: R27 Revenue Recognition (Tables) HTML 71K 40: R28 Derivative Financial Instruments (Tables) HTML 71K 41: R29 Trade Accounts and Other Receivables (Tables) HTML 45K 42: R30 Inventories (Tables) HTML 36K 43: R31 Investments in Securities (Tables) HTML 34K 44: R32 Goodwill and Intangible Assets (Tables) HTML 68K 45: R33 Property, Plant and Equipment (Tables) HTML 38K 46: R34 Current Liabilities (Tables) HTML 51K 47: R35 Debt (Tables) HTML 47K 48: R36 Stockholders' Equity (Tables) HTML 84K 49: R37 Pension and Other Postretirement Benefits (Tables) HTML 249K 50: R38 Fair Value Measurements (Tables) HTML 59K 51: R39 Related Party Transactions (Tables) HTML 79K 52: R40 Reportable Segments (Tables) HTML 68K 53: R41 GENERAL - Additional Information (Details) HTML 47K 54: R42 GENERAL - Cash, Cash Equivalents and Restricted HTML 35K Cash (Details) 55: R43 REVENUE RECOGNITION - Disaggregated Revenue HTML 78K (Details) 56: R44 REVENUE RECOGNITION - Contract Balances (Details) HTML 32K 57: R45 Derivative Financial Instruments (Narrative) HTML 35K (Details) 58: R46 Derivative Financial Instruments (Schedule of HTML 51K Outstanding Derivative Instruments and Cash Collateral) (Details) 59: R47 Derivative Financial Instruments (Schedule of HTML 34K Derivative Gain (Loss)) (Details) 60: R48 Derivative Financial Instruments (Schedule of Cash HTML 41K Flow Hedges Included in AOCI (Details) 61: R49 Trade Accounts and Other Receivables (Details) HTML 51K 62: R50 Inventories (Details) HTML 38K 63: R51 Investments in Securities (Details) HTML 35K 64: R52 GOODWILL AND INTANGIBLE ASSETS - Schedule of HTML 38K Goodwill (Details) 65: R53 GOODWILL AND INTANGIBLE ASSETS - Schedule of HTML 64K Intangible Assets (Details) 66: R54 GOODWILL AND INTANGIBLE ASSETS - Estimated Useful HTML 37K Lives of Finite-Lived Intangible Assets (Details) 67: R55 Property, Plant and Equipment (Schedule of HTML 49K Property, Plant and Equipment) (Details) 68: R56 Property, Plant and Equipment (Narrative) HTML 46K (Details) 69: R57 Current Liabilities (Details) HTML 72K 70: R58 Income Taxes (Details) HTML 41K 71: R59 DEBT - Schedule of Long-term Debt and Other HTML 81K Borrowing Arrangements (Details) 72: R60 DEBT - Narrative (Details) HTML 162K 73: R61 Stockholders' Equity (Schedule of Changes in HTML 70K Accumulated Other Comprehensive Loss) (Details) 74: R62 Stockholders' Equity (Schedule of Reclassification HTML 63K from Accumulated Other Comprehensive Loss) (Details) 75: R63 Stockholders' Equity (Narrative) (Details) HTML 32K 76: R64 Pension and Other Postretirement Benefits HTML 70K (Narrative) (Details) 77: R65 Pension and Other Postretirement Benefits HTML 94K (Schedule of Defined Benefit Plan Obligations and Assets) (Details) 78: R66 Pension and Other Postretirement Benefits HTML 49K (Schedule of Net Defined Benefit Pension and Other Postretirement Costs) (Details) 79: R67 Pension and Other Postretirement Benefits HTML 45K (Schedule of Economic Assumptions and Impact of Change in Discount Rate on Benefit Obligation) (Details) 80: R68 Pension and Other Postretirement Benefits HTML 45K (Schedule of Plan Asset Allocations) (Details) 81: R69 Pension and Other Postretirement Benefits HTML 112K (Schedule of Fair Value Assumptions of Plan Assets) (Details) 82: R70 Pension and Other Postretirement Benefits HTML 45K (Schedule of Benefit Payments) (Details) 83: R71 Pension and Other Postretirement Benefits HTML 46K (Schedule of Unrecognized Benefit Amounts) (Details) 84: R72 Stock-Based Compensation (Narrative) (Details) HTML 45K 85: R73 Fair Value Measurements (Schedule of Assets and HTML 51K Liabilities Measured on a Recurring Basis) (Details) 86: R74 Fair Value Measurements (Schedule of Fair Value HTML 53K and Carrying Amount of Debt Obligations) (Details) 87: R75 Related Party Transactions (Schedule of Related HTML 71K Party Transactions) (Details) 88: R76 REPORTABLE SEGMENTS - Narrative (Details) HTML 27K 89: R77 REPORTABLE SEGMENTS - Schedule of Segment HTML 73K Reporting Information, by Segment (Details) 90: R78 REPORTABLE SEGMENTS - Schedule of Segment HTML 43K Reporting, Goodwill and Assets (Details) 91: R79 Commitments and Contingencies (Details) HTML 52K 93: XML IDEA XML File -- Filing Summary XML 177K 12: XML XBRL Instance -- ppc-20210328_htm XML 3.44M 92: EXCEL IDEA Workbook of Financial Reports XLSX 134K 8: EX-101.CAL XBRL Calculations -- ppc-20210328_cal XML 293K 9: EX-101.DEF XBRL Definitions -- ppc-20210328_def XML 881K 10: EX-101.LAB XBRL Labels -- ppc-20210328_lab XML 1.97M 11: EX-101.PRE XBRL Presentations -- ppc-20210328_pre XML 1.22M 7: EX-101.SCH XBRL Schema -- ppc-20210328 XSD 206K 94: JSON XBRL Instance as JSON Data -- MetaLinks 478± 695K 95: ZIP XBRL Zipped Folder -- 0000802481-21-000051-xbrl Zip 716K
ppc-20210328 |
FORM | i 10-Q |
i ☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
i ☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
i Delaware | i 75-1285071 | ||||||||||
(State
or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | ||||||||||
i 1770 Promontory Circle | i 80634-9038 | ||||||||||
i Greeley | i CO | ||||||||||
(Address of principal executive offices) | (Zip code) |
Title of each class | Trading Symbol | Name of Exchange on which Registered | ||||||||||||
i Common Stock, Par Value $0.01 | i PPC | i The Nasdaq Stock Market LLC |
i Large Accelerated Filer | ý | Accelerated Filer | ☐ | ||||||||||||||
Non-accelerated Filer | ☐ | Smaller reporting company | i ☐ | ||||||||||||||
Emerging growth company | i ☐ |
Item 1. | ||||||||
Item 2. | ||||||||
Item 3. | ||||||||
Item 4. | ||||||||
Item 1. | ||||||||
Item 1A. | ||||||||
Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds | |||||||
Item 6. | ||||||||
PILGRIM’S PRIDE CORPORATION | ||||||||||||||
CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||||||||||
(Unaudited) | ||||||||||||||
March 28, 2021 | December 27, 2020 | |||||||||||||
(In thousands) | ||||||||||||||
Cash and cash equivalents | $ | i 367,015 | $ | i 547,624 | ||||||||||
Restricted cash and cash equivalents | i 43,225 | i 782 | ||||||||||||
Trade accounts and other receivables, less allowance for doubtful accounts | i 800,838 | i 741,992 | ||||||||||||
Accounts receivable from related parties | i 1,227 | i 1,084 | ||||||||||||
Inventories | i 1,439,915 | i 1,358,793 | ||||||||||||
Income taxes receivable | i 59,026 | i 69,397 | ||||||||||||
Prepaid expenses and other current assets | i 164,744 | i 183,039 | ||||||||||||
Total current assets | i 2,875,990 | i 2,902,711 | ||||||||||||
Deferred tax assets | i 5,358 | i 5,471 | ||||||||||||
Other long-lived assets | i 25,744 | i 24,780 | ||||||||||||
Operating lease assets, net | i 279,795 | i 288,886 | ||||||||||||
Identified intangible assets, net | i 592,182 | i 589,913 | ||||||||||||
Goodwill | i 1,019,323 | i 1,005,245 | ||||||||||||
Property, plant and equipment, net | i 2,682,369 | i 2,657,491 | ||||||||||||
Total assets | $ | i 7,480,761 | $ | i 7,474,497 | ||||||||||
Accounts payable | $ | i 1,025,249 | $ | i 1,028,710 | ||||||||||
Accounts payable to related parties | i 9,556 | i 9,650 | ||||||||||||
Revenue contract liabilities | i 35,334 | i 65,918 | ||||||||||||
Accrued expenses and other current liabilities | i 606,759 | i 807,847 | ||||||||||||
Income taxes payable | i 9,204 | i — | ||||||||||||
Current maturities of long-term debt | i 25,457 | i 25,455 | ||||||||||||
Total current liabilities | i 1,711,559 | i 1,937,580 | ||||||||||||
Noncurrent operating lease liability, less current maturities | i 208,152 | i 217,432 | ||||||||||||
Long-term debt, less current maturities | i 2,350,429 | i 2,255,546 | ||||||||||||
Deferred tax liabilities | i 360,015 | i 339,831 | ||||||||||||
Other long-term liabilities | i 114,850 | i 148,761 | ||||||||||||
Total liabilities | i 4,745,005 | i 4,899,150 | ||||||||||||
Common stock | i 2,613 | i 2,612 | ||||||||||||
Treasury stock | ( i 345,134) | ( i 345,134) | ||||||||||||
Additional paid-in capital | i 1,956,375 | i 1,954,334 | ||||||||||||
Retained earnings | i 1,072,777 | i 972,569 | ||||||||||||
Accumulated other comprehensive income (loss) | i 37,279 | ( i 20,620) | ||||||||||||
Total Pilgrim’s Pride Corporation stockholders’ equity | i 2,723,910 | i 2,563,761 | ||||||||||||
Noncontrolling interest | i 11,846 | i 11,586 | ||||||||||||
Total stockholders’ equity | i 2,735,756 | i 2,575,347 | ||||||||||||
Total liabilities and stockholders’ equity | $ | i 7,480,761 | $ | i 7,474,497 |
PILGRIM’S PRIDE CORPORATION | ||||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF INCOME | ||||||||||||||
(Unaudited) | ||||||||||||||
Three Months Ended | ||||||||||||||
March 28, 2021 | March 29, 2020 | |||||||||||||
(in thousands, except per share data) | ||||||||||||||
Net sales | $ | i 3,273,425 | $ | i 3,074,928 | ||||||||||
Cost of sales | i 3,012,182 | i 2,897,829 | ||||||||||||
Gross profit | i 261,243 | i 177,099 | ||||||||||||
Selling, general and administrative expense | i 102,779 | i 92,713 | ||||||||||||
Operating income | i 158,464 | i 84,386 | ||||||||||||
Interest expense, net of capitalized interest | i 30,334 | i 32,688 | ||||||||||||
Interest income | ( i 2,366) | ( i 1,690) | ||||||||||||
Foreign currency transaction loss (gain) | i 2,514 | ( i 18,385) | ||||||||||||
Miscellaneous, net | ( i 7,844) | ( i 34,188) | ||||||||||||
Income before income taxes | i 135,826 | i 105,961 | ||||||||||||
Income tax expense | i 35,358 | i 38,512 | ||||||||||||
Net income | i 100,468 | i 67,449 | ||||||||||||
Less:
Net income attributable to noncontrolling interests | i 260 | i 181 | ||||||||||||
Net income attributable to Pilgrim’s Pride Corporation | $ | i 100,208 | $ | i 67,268 | ||||||||||
Weighted average shares of Pilgrim's Pride Corporation common stock outstanding: | ||||||||||||||
Basic | i 243,580 | i 249,347 | ||||||||||||
Effect of dilutive common stock equivalents | i 278 | i 275 | ||||||||||||
Diluted | i 243,858 | i 249,622 | ||||||||||||
Net income attributable to Pilgrim's Pride Corporation per share of common stock outstanding: | ||||||||||||||
Basic | $ | i 0.41 | $ | i 0.27 | ||||||||||
Diluted | $ | i 0.41 | $ | i 0.27 |
PILGRIM’S PRIDE CORPORATION | ||||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | ||||||||||||||
(Unaudited) | ||||||||||||||
Three Months Ended | ||||||||||||||
March 28, 2021 | March 29, 2020 | |||||||||||||
(in thousands) | ||||||||||||||
Net income | $ | i 100,468 | $ | i 67,449 | ||||||||||
Other comprehensive income: | ||||||||||||||
Foreign currency translation adjustment: | ||||||||||||||
Gains (losses) arising during the period | i 33,291 | ( i 96,765) | ||||||||||||
Derivative
financial instruments designated as cash flow hedges: | ||||||||||||||
Gains arising during the period | i 1,468 | i 4,048 | ||||||||||||
Income tax effect | i 7 | i — | ||||||||||||
Reclassification to net earnings for losses (gains) realized | ( i 168) | i 742 | ||||||||||||
Income tax effect | ( i 32) | i — | ||||||||||||
Available-for-sale securities: | ||||||||||||||
Gains arising during the period | i — | i 12 | ||||||||||||
Income tax effect | i — | ( i 3) | ||||||||||||
Defined benefit plans: | ||||||||||||||
Gains (losses) arising during the period | i 29,227 | ( i 10,810) | ||||||||||||
Income tax effect | ( i 6,330) | i 2,705 | ||||||||||||
Reclassification to net earnings of losses realized | i 571 | i 376 | ||||||||||||
Income tax effect | ( i 135) | ( i 93) | ||||||||||||
Total other comprehensive income (loss), net of tax | i 57,899 | ( i 99,788) | ||||||||||||
Comprehensive income (loss) | i 158,367 | ( i 32,339) | ||||||||||||
Less: Comprehensive income attributable to noncontrolling interests | i 260 | i 181 | ||||||||||||
Comprehensive income (loss) attributable to Pilgrim's Pride Corporation | $ | i 158,107 | $ | ( i 32,520) |
PILGRIM’S PRIDE CORPORATION | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
(Unaudited) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 28, 2021 | Common Stock | Treasury Stock | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income | Noncontrolling Interest | Total | |||||||||||||||||||||||||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at December 27, 2020 | i 261,185 | $ | i 2,612 | ( i 17,673) | $ | ( i 345,134) | $ | i 1,954,334 | $ | i 972,569 | $ | ( i 20,620) | $ | i 11,586 | $ | i 2,575,347 | ||||||||||||||||||||||||||||||||||||||||
Net income | — | — | — | — | — | i 100,208 | — | i 260 | i 100,468 | |||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive income, net of tax | — | — | — | — | — | — | i 57,899 | — | i 57,899 | |||||||||||||||||||||||||||||||||||||||||||||||
Stock-based compensation plans: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued under compensation plans | i 153 | i 1 | — | — | ( i 1) | — | — | — | i — | |||||||||||||||||||||||||||||||||||||||||||||||
Requisite service period recognition | — | — | — | — | i 2,042 | — | — | — | i 2,042 | |||||||||||||||||||||||||||||||||||||||||||||||
Balance at March 28, 2021 | i 261,338 | $ | i 2,613 | ( i 17,673) | $ | ( i 345,134) | $ | i 1,956,375 | $ | i 1,072,777 | $ | i 37,279 | $ | i 11,846 | $ | i 2,735,756 | ||||||||||||||||||||||||||||||||||||||||
Three Months Ended March 29, 2020 | Common Stock | Treasury Stock | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Loss | Noncontrolling Interest | Total | |||||||||||||||||||||||||||||||||||||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at December 29, 2019 | i 261,119 | $ | i 2,611 | ( i 11,547) | $ | ( i 234,892) | $ | i 1,955,261 | $ | i 877,812 | $ | ( i 75,129) | $ | i 10,397 | $ | i 2,536,060 | ||||||||||||||||||||||||||||||||||||||||
Net income | — | — | — | — | — | i 67,268 | — | i 181 | i 67,449 | |||||||||||||||||||||||||||||||||||||||||||||||
Other comprehensive loss, net of tax | — | — | — | — | — | — | ( i 99,788) | — | ( i 99,788) | |||||||||||||||||||||||||||||||||||||||||||||||
Stock-based compensation plans: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common stock issued under compensation plans | i 66 | i 1 | — | — | ( i 1) | — | — | — | i — | |||||||||||||||||||||||||||||||||||||||||||||||
Requisite service period recognition | — | — | — | — | i 676 | — | — | — | i 676 | |||||||||||||||||||||||||||||||||||||||||||||||
Common stock purchased under share repurchase program | — | — | ( i 1,466) | ( i 27,906) | — | — | — | — | ( i 27,906) | |||||||||||||||||||||||||||||||||||||||||||||||
Balance at March 29, 2020 | i 261,185 | $ | i 2,612 | ( i 13,013) | $ | ( i 262,798) | $ | i 1,955,936 | $ | i 945,080 | $ | ( i 174,917) | $ | i 10,578 | $ | i 2,476,491 |
PILGRIM’S PRIDE CORPORATION | ||||||||||||||
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||||||||
(Unaudited) | ||||||||||||||
Three Months Ended | ||||||||||||||
March 28, 2021 | March 29, 2020 | |||||||||||||
(In thousands) | ||||||||||||||
Cash flows from operating activities: | ||||||||||||||
Net income | $ | i 100,468 | $ | i 67,449 | ||||||||||
Adjustments to reconcile net income to cash provided by operating activities: | ||||||||||||||
Depreciation and amortization | i 86,532 | i 79,773 | ||||||||||||
Deferred income tax expense | i 12,483 | i 17,023 | ||||||||||||
Gain on property disposals | ( i 2,396) | ( i 521) | ||||||||||||
Stock-based compensation | i 2,042 | i 676 | ||||||||||||
Loan cost amortization | i 1,215 | i 1,212 | ||||||||||||
Accretion of discount related to Senior Notes | i 246 | i 246 | ||||||||||||
Amortization of premium related to Senior Notes | ( i 167) | ( i 167) | ||||||||||||
Loss (gain) on equity-method investments | ( i 4) | i 309 | ||||||||||||
Negative adjustment to previously recognized gain on bargain purchase | i — | i 1,740 | ||||||||||||
Changes in operating assets and liabilities: | ||||||||||||||
Trade accounts and other receivables | ( i 54,892) | ( i 26,296) | ||||||||||||
Inventories | ( i 82,550) | i 9,333 | ||||||||||||
Prepaid expenses and other current assets | i 20,228 | ( i 22,419) | ||||||||||||
Accounts payable, accrued expenses and other current liabilities | ( i 240,183) | ( i 108,004) | ||||||||||||
Income taxes | i 25,440 | ( i 16) | ||||||||||||
Long-term pension and other postretirement obligations | ( i 10,841) | ( i 6,282) | ||||||||||||
Other operating assets and liabilities | ( i 1,172) | i 7,008 | ||||||||||||
Cash provided by (used in) operating activities | ( i 143,551) | i 21,064 | ||||||||||||
Cash flows from investing activities: | ||||||||||||||
Acquisitions of property, plant and equipment | ( i 102,167) | ( i 77,168) | ||||||||||||
Proceeds from property disposals | i 13,074 | i 632 | ||||||||||||
Purchase of acquired business, net of cash acquired | i — | ( i 1,740) | ||||||||||||
Cash used in investing activities | ( i 89,093) | ( i 78,276) | ||||||||||||
Cash flows from financing activities: | ||||||||||||||
Proceeds from revolving line of credit and long-term borrowings | i 328,932 | i 356,547 | ||||||||||||
Payments on revolving line of credit, long-term borrowings and finance lease obligations | ( i 235,292) | ( i 13,396) | ||||||||||||
Payment of equity distribution under Tax Sharing Agreement between JBS USA Food Company Holdings and Pilgrim’s Pride Corporation | ( i 650) | i — | ||||||||||||
Purchase of common stock under share repurchase program | i — | ( i 27,906) | ||||||||||||
Cash provided by financing activities | i 92,990 | i 315,245 | ||||||||||||
Effect of exchange rate changes on cash and cash equivalents | i 1,488 | ( i 2,193) | ||||||||||||
Increase (decrease) in cash, cash equivalents and restricted cash | ( i 138,166) | i 255,840 | ||||||||||||
Cash, cash equivalents and restricted cash, beginning of period | i 548,406 | i 280,577 | ||||||||||||
Cash, cash equivalents and restricted cash, end of period | $ | i 410,240 | $ | i 536,417 |
March 28, 2021 | December 27, 2020 | |||||||||||||
(In thousands) | ||||||||||||||
Cash and cash equivalents | $ | i 367,015 | $ | i 547,624 | ||||||||||
Restricted cash | i 43,225 | i 782 | ||||||||||||
Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash Flows | $ | i 410,240 | $ | i 548,406 |
Three Months Ended March 28, 2021 | |||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Fresh | Prepared | Export | Other | Total | |||||||||||||||||||||||||
U.S. chicken | $ | i 1,597,423 | $ | i 194,272 | $ | i 113,971 | $ | i 93,893 | $ | i 1,999,559 | |||||||||||||||||||
U.K. and Europe chicken | i 210,445 | i 216,313 | i 63,551 | i 11,602 | i 501,911 | ||||||||||||||||||||||||
Mexico chicken | i 372,721 | i 27,404 | i — | i 19,006 | i 419,131 | ||||||||||||||||||||||||
Total chicken | i 2,180,589 | i 437,989 | i 177,522 | i 124,501 | i 2,920,601 | ||||||||||||||||||||||||
U.K. and Europe pork | i 176,441 | i 159,809 | i 15,831 | i 743 | i 352,824 | ||||||||||||||||||||||||
Total net sales | $ | i 2,357,030 | $ | i 597,798 | $ | i 193,353 | $ | i 125,244 | $ | i 3,273,425 |
Three Months Ended March 29, 2020 | |||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Fresh | Prepared | Export | Other | Total | |||||||||||||||||||||||||
U.S. chicken | $ | i 1,541,640 | $ | i 216,087 | $ | i 58,854 | $ | i 110,299 | $ | i 1,926,880 | |||||||||||||||||||
U.K. and Europe chicken | i 231,953 | i 194,405 | i 59,112 | i 15,703 | i 501,173 | ||||||||||||||||||||||||
Mexico chicken | i 292,912 | i 24,971 | i — | i 7,903 | i 325,786 | ||||||||||||||||||||||||
Total chicken | i 2,066,505 | i 435,463 | i 117,966 | i 133,905 | i 2,753,839 | ||||||||||||||||||||||||
U.K. and Europe pork | i 164,682 | i 117,630 | i 18,050 | i 20,727 | i 321,089 | ||||||||||||||||||||||||
Total net sales | $ | i 2,231,187 | $ | i 553,093 | $ | i 136,016 | $ | i 154,632 | $ | i 3,074,928 |
March 28, 2021 | |||||
(In thousands) | |||||
Balance, beginning of period | $ | i 65,918 | |||
Revenue recognized | ( i 48,218) | ||||
Cash received, excluding amounts recognized as revenue during the period | i 17,634 | ||||
Balance, end of period | $ | i 35,334 |
March 28, 2021 | December 27, 2020 | ||||||||||
(In thousands) | |||||||||||
Fair values: | |||||||||||
Commodity derivative assets | $ | i 6,074 | $ | i 24,059 | |||||||
Commodity derivative liabilities | ( i 13,863) | ( i 6,531) | |||||||||
Foreign currency derivative assets | i 2,410 | i 2,204 | |||||||||
Foreign currency derivative liabilities | ( i 7,180) | ( i 428) | |||||||||
Interest rate swap derivative liabilities | ( i 538) | ( i 640) | |||||||||
Sales contract derivative liabilities | ( i 18,104) | i — | |||||||||
Cash
collateral posted with brokers(a) | i 43,169 | i 782 | |||||||||
Derivatives
coverage(b): | |||||||||||
Corn | i 13.8 | % | i 16.0 | % | |||||||
Soybean meal | i 21.0 | % | i 24.0 | % | |||||||
Period through which stated percent of needs are covered: | |||||||||||
Corn | May 2022 | December 2021 | |||||||||
Soybean meal | January 2022 | December 2021 | |||||||||
Type of Derivative Contract | Three Months Ended March 28, 2021 | Three Months Ended March 29, 2020 | Affected Line Item in the Condensed Consolidated Statements of Income | ||||||||||||||
(In thousands) | |||||||||||||||||
Foreign currency derivatives gain | $ | ( i 5,340) | $ | ( i 33,031) | Foreign currency transaction loss (gain) | ||||||||||||
Commodity derivative loss (gain) | ( i 17,378) | i 5,271 | Cost of sales | ||||||||||||||
Sales contract derivative loss | i 18,104 | i — | Net sales | ||||||||||||||
Total | $ | ( i 4,614) | $ | ( i 27,760) |
Gain (Loss) Recognized in Other Comprehensive Income on Derivative | |||||||||||
Three Months Ended | |||||||||||
March 28, 2021 | March 29, 2020 | ||||||||||
(In thousands) | |||||||||||
Foreign currency derivatives | $ | i 1,485 | $ | i 4,123 | |||||||
Interest rate swap derivatives | ( i 29) | i — | |||||||||
Total | $ | i 1,456 | $ | i 4,123 | |||||||
Gain (Loss) Reclassified from AOCI into Income | |||||||||||
Three Months Ended | |||||||||||
March 28, 2021 | March 29, 2020 | ||||||||||
(In thousands) | |||||||||||
Foreign currency derivatives | $ | i 300 | $ | ( i 742) | |||||||
Interest rate swap derivatives | ( i 132) | i — | |||||||||
Total | $ | i 168 | $ | ( i 742) |
March 28, 2021 | December 27, 2020 | |||||||||||||
(In thousands) | ||||||||||||||
Trade accounts receivable | $ | i 731,988 | $ | i 691,499 | ||||||||||
Notes receivable | i 28,484 | i 25,712 | ||||||||||||
Other receivables | i 47,749 | i 31,954 | ||||||||||||
Receivables, gross | i 808,221 | i 749,165 | ||||||||||||
Allowance for doubtful accounts | ( i 7,383) | ( i 7,173) | ||||||||||||
Receivables, net | $ | i 800,838 | $ | i 741,992 | ||||||||||
Accounts
receivable from related parties(a) | $ | i 1,227 | $ | i 1,084 | ||||||||||
March 28, 2021 | ||||||||
(In thousands) | ||||||||
Balance, beginning of period | $ | ( i 7,173) | ||||||
Provision charged to operating results | ( i 266) | |||||||
Account write-offs and recoveries | ( i 1) | |||||||
Effect of exchange rate | i 57 | |||||||
Balance, end of period | $ | ( i 7,383) |
March 28, 2021 | December 27, 2020 | ||||||||||
(In thousands) | |||||||||||
Raw materials and work-in-process | $ | i 966,319 | $ | i 868,369 | |||||||
Finished products | i 343,772 | i 356,052 | |||||||||
Operating supplies | i 61,560 | i 66,495 | |||||||||
Maintenance materials and parts | i 68,264 | i 67,877 | |||||||||
Total inventories | $ | i 1,439,915 | $ | i 1,358,793 |
March 28, 2021 | December 27, 2020 | |||||||||||||||||||||||||
Cost | Fair
Value | Cost | Fair Value | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||
Cash equivalents: | ||||||||||||||||||||||||||
Fixed income securities | $ | i 123,658 | $ | i 123,658 | $ | i 178,677 | $ | i 178,677 | ||||||||||||||||||
December 27, 2020 | Currency Translation | March 28, 2021 | ||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||
U.S. | $ | i 41,936 | $ | i — | $ | i 41,936 | ||||||||||||||||||||||||||
U.K. and Europe | i 835,505 | i 14,078 | i 849,583 | |||||||||||||||||||||||||||||
Mexico | i 127,804 | i — | i 127,804 | |||||||||||||||||||||||||||||
Total | $ | i 1,005,245 | $ | i 14,078 | $ | i 1,019,323 | ||||||||||||||||||||||||||
December 27, 2020 | Amortization | Currency Translation | March 28, 2021 | |||||||||||||||||||||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||||||||||||||||||||
Cost: | ||||||||||||||||||||||||||||||||||||||||||||
Trade names | $ | i 78,343 | $ | — | $ | i — | $ | i 78,343 | ||||||||||||||||||||||||||||||||||||
Customer relationships | i 297,062 | — | i 2,299 | i 299,361 | ||||||||||||||||||||||||||||||||||||||||
Non-compete agreements | i 320 | — | i — | i 320 | ||||||||||||||||||||||||||||||||||||||||
Trade names not subject to amortization | i 405,240 | — | i 6,643 | i 411,883 | ||||||||||||||||||||||||||||||||||||||||
Accumulated amortization: | ||||||||||||||||||||||||||||||||||||||||||||
Trade names | ( i 47,486) | ( i 492) | i — | ( i 47,978) | ||||||||||||||||||||||||||||||||||||||||
Customer relationships | ( i 143,246) | ( i 5,321) | ( i 860) | ( i 149,427) | ||||||||||||||||||||||||||||||||||||||||
Non-compete agreements | ( i 320) | i — | i — | ( i 320) | ||||||||||||||||||||||||||||||||||||||||
Total | $ | i 589,913 | $ | ( i 5,813) | $ | i 8,082 | $ | i 592,182 | ||||||||||||||||||||||||||||||||||||
Customer relationships | i 5- i 16
years | ||||
Trade names | i 3- i 20 years | ||||
Non-compete agreements | i 3 years | ||||
March 28, 2021 | December 27, 2020 | ||||||||||
(In thousands) | |||||||||||
Land | $ | i 246,271 | $ | i 255,171 | |||||||
Buildings | i 1,975,578 | i 1,983,823 | |||||||||
Machinery and equipment | i 3,296,982 | i 3,230,199 | |||||||||
Autos and trucks | i 73,760 | i 73,647 | |||||||||
Finance leases | i 2,182 | i 2,182 | |||||||||
Construction-in-progress | i 233,867 | i 199,161 | |||||||||
PP&E, gross | i 5,828,640 | i 5,744,183 | |||||||||
Accumulated depreciation | ( i 3,146,271) | ( i 3,086,692) | |||||||||
PP&E, net | $ | i 2,682,369 | $ | i 2,657,491 |
March 28, 2021 | December 27, 2020 | ||||||||||||||||
(In thousands) | |||||||||||||||||
Accounts payable: | |||||||||||||||||
Trade accounts | $ | i 942,100 | $ | i 904,674 | |||||||||||||
Book overdrafts | i 66,820 | i 106,435 | |||||||||||||||
Other payables | i 16,329 | i 17,601 | |||||||||||||||
Total accounts payable | i 1,025,249 | i 1,028,710 | |||||||||||||||
Accounts
payable to related parties(a) | i 9,556 | i 9,650 | |||||||||||||||
Revenue
contract liabilities(b) | i 35,334 | i 65,918 | |||||||||||||||
Accrued expenses and other current liabilities: | |||||||||||||||||
Compensation and benefits | i 154,591 | i 189,767 | |||||||||||||||
Taxes | i 72,629 | i 67,812 | |||||||||||||||
Current maturities of operating lease liabilities | i 70,994 | i 71,592 | |||||||||||||||
Insurance and self-insured claims | i 65,586 | i 61,212 | |||||||||||||||
Derivative liabilities | i 39,685 | i 7,599 | |||||||||||||||
Accrued sales rebate | i 30,315 | i 44,708 | |||||||||||||||
Interest and debt-related fees | i 28,146 | i 29,559 | |||||||||||||||
U.S. Department of Justice agreement | i — | i 110,524 | |||||||||||||||
Legal settlement | i — | i 75,000 | |||||||||||||||
Other accrued expenses | i 144,813 | i 150,074 | |||||||||||||||
Total accrued expenses and other current liabilities | i 606,759 | i 807,847 | |||||||||||||||
Total accounts payable, accrued expenses and other current liabilities | $ | i 1,676,898 | $ | i 1,912,125 |
Maturity | March 28, 2021 | December 27, 2020 | |||||||||||||||
(In thousands) | |||||||||||||||||
Senior notes payable, net of premium and discount at i 5.75% | 2025 | $ | i 1,001,592 | $ | i 1,001,693 | ||||||||||||
Senior
notes payable, net of discount at i 5.875% | 2027 | i 845,329 | i 845,149 | ||||||||||||||
U.S. Credit Facility (defined below): | |||||||||||||||||
Term note payable at i 1.37% | 2023 | i 443,750 | i 450,000 | ||||||||||||||
Revolving
note payable at i 1.36% | 2023 | i 100,000 | i — | ||||||||||||||
Moy
Park Bank of Ireland Revolving Facility with notes payable at LIBOR or EURIBOR plus i 1.25% to i 2.00% | 2023 | i — | i — | ||||||||||||||
Mexico
Credit Facility (defined below) with notes payable at TIIE plus i 1.50% | 2023 | i — | i — | ||||||||||||||
Secured
loans with payables at weighted average of i 3.34% | 2022 | i 32 | i 38 | ||||||||||||||
Finance lease obligations | Various | i 1,561 | i 1,664 | ||||||||||||||
Long-term debt | i 2,392,264 | i 2,298,544 | |||||||||||||||
Less: Current maturities of long-term debt | ( i 25,457) | ( i 25,455) | |||||||||||||||
Long-term debt, less current maturities | i 2,366,807 | i 2,273,089 | |||||||||||||||
Less: Capitalized financing costs | ( i 16,378) | ( i 17,543) | |||||||||||||||
Long-term debt, less current maturities, net of capitalized financing costs | $ | i 2,350,429 | $ | i 2,255,546 |
Three
Months Ended March 28, 2021(a) | |||||||||||||||||||||||||||||
Gains Related to Foreign Currency Translation | Gains on Derivative Financial Instruments Classified as Cash Flow Hedges | Losses Related to Pension and Other Postretirement Benefits | Losses on Available-for-Sale Securities | Total | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Balance, beginning of period | $ | i 82,782 | $ | ( i 1,191) | $ | ( i 102,211) | $ | i — | $ | ( i 20,620) | |||||||||||||||||||
Other
comprehensive income before reclassifications | i 33,291 | i 1,463 | i 22,897 | i — | i 57,651 | ||||||||||||||||||||||||
Amounts
reclassified from accumulated other comprehensive income to net income | i — | ( i 200) | i 436 | i — | i 236 | ||||||||||||||||||||||||
Currency translation | i — | i 12 | i — | i — | i 12 | ||||||||||||||||||||||||
Net current period other comprehensive income | i 33,291 | i 1,275 | i 23,333 | i — | i 57,899 | ||||||||||||||||||||||||
Balance, end of period | $ | i 116,073 | $ | i 84 | $ | ( i 78,878) | $ | i — | $ | i 37,279 |
Three Months Ended March 29, 2020(a) | |||||||||||||||||||||||||||||
Losses Related to Foreign Currency Translation | Gains on Derivative Financial Instruments Classified as Cash Flow Hedges | Losses Related to Pension and Other Postretirement Benefits | Gains on Available-for-Sale Securities | Total | |||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||
Balance, beginning of period | $ | ( i 1,108) | $ | ( i 2,406) | $ | ( i 71,615) | $ | i — | $ | ( i 75,129) | |||||||||||||||||||
Other
comprehensive income (loss) before reclassifications | ( i 96,765) | i 4,123 | ( i 8,105) | i 9 | ( i 100,738) | ||||||||||||||||||||||||
Amounts
reclassified from accumulated other comprehensive loss to net income | i — | i 742 | i 283 | i — | i 1,025 | ||||||||||||||||||||||||
Currency translation | i — | ( i 75) | i — | i — | ( i 75) | ||||||||||||||||||||||||
Net current period other comprehensive income (loss) | ( i 96,765) | i 4,790 | ( i 7,822) | i 9 | ( i 99,788) | ||||||||||||||||||||||||
Balance, end of period | $ | ( i 97,873) | $ | i 2,384 | $ | ( i 79,437) | $ | i 9 | $ | ( i 174,917) |
Amount
Reclassified from Accumulated Other Comprehensive Income(a) | ||||||||||||||||||||
Details about Accumulated Other Comprehensive Income Components | Three Months Ended March 28, 2021 | Three Months Ended March 29, 2020 | Affected Line Item in the Condensed Consolidated Statements of Income | |||||||||||||||||
(In thousands) | ||||||||||||||||||||
Realized
gain on settlement of foreign currency derivatives classified as cash flow hedges | $ | i 278 | $ | i — | Net sales | |||||||||||||||
Realized gain (loss) on settlement of foreign currency derivatives classified as cash flow hedges | i 22 | ( i 742) | Cost of sales | |||||||||||||||||
Realized loss on settlement of interest rate swap derivatives classified as cash flow hedges | ( i 132) | i — | Interest expense, net of capitalized interest | |||||||||||||||||
Amortization of pension and other postretirement plan actuarial losses(b) | ( i 571) | ( i 375) | Miscellaneous, net | |||||||||||||||||
Total before tax | ( i 403) | ( i 1,117) | ||||||||||||||||||
Tax expense | i 167 | i 93 | ||||||||||||||||||
Total reclassification for the period | $ | ( i 236) | $ | ( i 1,024) |
Three Months Ended | |||||||||||||||||||||||
March 28, 2021 | March 29, 2020 | ||||||||||||||||||||||
Pension Benefits | Other Benefits | Pension Benefits | Other Benefits | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Change in projected benefit obligation | |||||||||||||||||||||||
Projected benefit obligation, beginning of period | $ | i 404,194 | $ | i 1,593 | $ | i 369,066 | $ | i 1,527 | |||||||||||||||
Interest cost | i 1,450 | i 5 | i 2,039 | i 9 | |||||||||||||||||||
Actuarial gain | ( i 27,980) | ( i 53) | ( i 29,447) | ( i 17) | |||||||||||||||||||
Benefits paid | ( i 4,583) | ( i 42) | ( i 4,746) | ( i 40) | |||||||||||||||||||
Prior service cost | i — | i — | i 6 | i — | |||||||||||||||||||
Currency translation loss (gain) | i 3,674 | i — | ( i 9,019) | i — | |||||||||||||||||||
Projected benefit obligation, end of period | $ | i 376,755 | $ | i 1,503 | $ | i 327,899 | $ | i 1,479 |
Three Months Ended | |||||||||||||||||||||||
March 28, 2021 | March 29, 2020 | ||||||||||||||||||||||
Pension Benefits | Other Benefits | Pension Benefits | Other Benefits | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Change in plan assets | |||||||||||||||||||||||
Fair value of plan assets, beginning of period | $ | i 305,983 | $ | i — | $ | i 294,589 | $ | i — | |||||||||||||||
Actual return on plan assets | i 4,291 | i — | ( i 37,302) | i — | |||||||||||||||||||
Contributions by employer | i 3,916 | i 42 | i 2,172 | i 40 | |||||||||||||||||||
Benefits paid | ( i 4,828) | ( i 42) | ( i 4,746) | ( i 40) | |||||||||||||||||||
Expenses paid from assets | ( i 78) | i — | ( i 438) | i — | |||||||||||||||||||
Currency translation gain (loss) | i 3,145 | i — | ( i 8,226) | i — | |||||||||||||||||||
Fair value of plan assets, end of period | $ | i 312,429 | $ | i — | $ | i 246,049 | $ | i — |
March 28, 2021 | December 27, 2020 | ||||||||||||||||||||||
Pension Benefits | Other Benefits | Pension Benefits | Other Benefits | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Funded status | |||||||||||||||||||||||
Unfunded benefit obligation, end of period | $ | ( i 64,326) | $ | ( i 1,503) | $ | ( i 98,211) | $ | ( i 1,593) |
March 28, 2021 | December 27, 2020 | ||||||||||||||||||||||
Pension Benefits | Other Benefits | Pension Benefits | Other Benefits | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Amounts recognized in the Condensed Consolidated Balance Sheets at end of period | |||||||||||||||||||||||
Current liability | $ | ( i 2,962) | $ | ( i 168) | $ | ( i 7,510) | $ | ( i 169) | |||||||||||||||
Long-term liability | ( i 61,364) | ( i 1,335) | ( i 90,701) | ( i 1,424) | |||||||||||||||||||
Recognized liability | $ | ( i 64,326) | $ | ( i 1,503) | $ | ( i 98,211) | $ | ( i 1,593) |
March 28, 2021 | December 27, 2020 | ||||||||||||||||||||||
Pension Benefits | Other Benefits | Pension Benefits | Other Benefits | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Amounts recognized in accumulated other comprehensive loss at end of period | |||||||||||||||||||||||
Net actuarial loss | $ | i 65,831 | $ | i 120 | $ | i 95,522 | $ | i 174 |
Three Months Ended | ||||||||||||||||||||||||||
March 28, 2021 | March 29, 2020 | |||||||||||||||||||||||||
Pension Benefits | Other Benefits | Pension Benefits | Other Benefits | |||||||||||||||||||||||
(In thousands) | ||||||||||||||||||||||||||
Interest cost | $ | i 1,450 | $ | i 5 | $ | i 2,039 | $ | i 9 | ||||||||||||||||||
Estimated return on plan assets | ( i 2,641) | i — | ( i 3,283) | i — | ||||||||||||||||||||||
Expenses paid from assets | i 78 | i — | i 444 | i — | ||||||||||||||||||||||
Amortization of net loss | i 565 | i 1 | i 376 | i — | ||||||||||||||||||||||
Amortization of past service cost | i 5 | i — | i — | i — | ||||||||||||||||||||||
Net
costs(a) | $ | ( i 543) | $ | i 6 | $ | ( i 424) | $ | i 9 |
March 28, 2021 | December 27, 2020 | ||||||||||||||||||||||
Pension Benefits | Other Benefits | Pension Benefits | Other Benefits | ||||||||||||||||||||
Assumptions used to measure benefit obligation at end of period | |||||||||||||||||||||||
Discount rate | i 2.36 | % | i 2.37 | % | i 1.83 | % | i 1.80 | % |
Three Months Ended | |||||||||||||||||||||||
March 28, 2021 | March 29, 2020 | ||||||||||||||||||||||
Pension Benefits | Other Benefits | Pension Benefits | Other Benefits | ||||||||||||||||||||
Assumptions used to measure net pension and other postretirement cost | |||||||||||||||||||||||
Discount rate | i 1.83 | % | i 1.80 | % | i 2.72 | % | i 2.77 | % | |||||||||||||||
Expected return on plan assets | i 3.53 | % | NA | i 2.31 | % | NA |
Increase in Discount Rate of 0.25% | Decrease in Discount Rate of 0.25% | ||||||||||
(In thousands) | |||||||||||
Impact on projected benefit obligation for pension benefits | $ | ( i 10,085) | $ | i 10,618 |
March 28, 2021 | December 27, 2020 | ||||||||||
Cash and cash equivalents | i 2 | % | i 1 | % | |||||||
Pooled
separate accounts for the Union Plan(a): | |||||||||||
Equity securities | i 2 | % | i 2 | % | |||||||
Fixed income securities | i 2 | % | i 2 | % | |||||||
Pooled
separate accounts and common collective trust funds for the GK Pension Plan(a): | |||||||||||
Equity securities | i 20 | % | i 20 | % | |||||||
Fixed income securities | i 12 | % | i 13 | % | |||||||
Real estate | i 2 | % | i 1 | % | |||||||
Pooled
separate accounts for the U.K. Plans(a): | |||||||||||
Equity securities | i 35 | % | i 35 | % | |||||||
Fixed income securities | i 19 | % | i 20 | % | |||||||
Real estate | i 6 | % | i 6 | % | |||||||
Total assets | i 100 | % | i 100 | % |
March 28, 2021 | December 27, 2020 | ||||||||||||||||||||||||||||||||||||||||||||||
Level 1(a) | Level 2(b) | Level 3(c) | Total | Level 1(a) | Level 2(b) | Level
3(c) | Total | ||||||||||||||||||||||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | $ | i 5,975 | $ | i — | $ | i — | $ | i 5,975 | $ | i 1,487 | $ | i — | $ | i — | $ | i 1,487 | |||||||||||||||||||||||||||||||
PSAs for the Union Plan: | |||||||||||||||||||||||||||||||||||||||||||||||
Large U.S. equity funds(d) | i — | i 3,339 | i — | i 3,339 | i — | i 3,100 | i — | i 3,100 | |||||||||||||||||||||||||||||||||||||||
Small/Mid
U.S. equity funds(e) | i — | i 451 | i — | i 451 | i — | i 392 | i — | i 392 | |||||||||||||||||||||||||||||||||||||||
International
equity funds(f) | i — | i 2,013 | i — | i 2,013 | i — | i 1,874 | i — | i 1,874 | |||||||||||||||||||||||||||||||||||||||
Fixed
income funds(g) | i — | i 5,055 | i — | i 5,055 | i — | i 5,365 | i — | i 5,365 | |||||||||||||||||||||||||||||||||||||||
PSAs and CCTs for the GK Pension Plan: | |||||||||||||||||||||||||||||||||||||||||||||||
Large U.S. equity funds(d) | i — | i 31,190 | i — | i 31,190 | i — | i 29,602 | i — | i 29,602 | |||||||||||||||||||||||||||||||||||||||
Small/Mid
U.S. equity funds(e) | i — | i 16,602 | i — | i 16,602 | i — | i 17,569 | i — | i 17,569 | |||||||||||||||||||||||||||||||||||||||
International
equity funds(f) | i — | i 15,682 | i — | i 15,682 | i — | i 16,320 | i — | i 16,320 | |||||||||||||||||||||||||||||||||||||||
Fixed
income funds(g) | i — | i 37,860 | i — | i 37,860 | i — | i 38,944 | i — | i 38,944 | |||||||||||||||||||||||||||||||||||||||
Real
estate(h) | i — | i 5,163 | i — | i 5,163 | i — | i 5,677 | i — | i 5,677 | |||||||||||||||||||||||||||||||||||||||
PSAs for the U.K. Plans: | |||||||||||||||||||||||||||||||||||||||||||||||
Large U.S. equity funds(d) | i — | i 43,792 | i — | i 43,792 | i — | i 39,002 | i — | i 39,002 | |||||||||||||||||||||||||||||||||||||||
International
equity funds(f) | i — | i 68,524 | i — | i 68,524 | i — | i 69,251 | i — | i 69,251 | |||||||||||||||||||||||||||||||||||||||
Fixed
income funds(g) | i — | i 59,076 | i — | i 59,076 | i — | i 60,212 | i — | i 60,212 | |||||||||||||||||||||||||||||||||||||||
Real
estate(h) | i — | i 17,707 | i — | i 17,707 | i — | i 17,188 | i — | i 17,188 | |||||||||||||||||||||||||||||||||||||||
Total assets | $ | i 5,975 | $ | i 306,454 | $ | i — | $ | i 312,429 | $ | i 1,487 | $ | i 304,496 | $ | i — | $ | i 305,983 |
Pension Benefits | Other Benefits | ||||||||||
(In thousands) | |||||||||||
2021 | $ | i 21,520 | $ | i 127 | |||||||
2022 | i 17,010 | i 163 | |||||||||
2023 | i 16,509 | i 156 | |||||||||
2024 | i 16,141 | i 149 | |||||||||
2025 | i 15,710 | i 140 | |||||||||
2026-2030 | i 71,936 | i 555 | |||||||||
Total | $ | i 158,826 | $ | i 1,290 |
Three Months Ended | |||||||||||||||||||||||
March 28, 2021 | March 29, 2020 | ||||||||||||||||||||||
Pension Benefits | Other Benefits | Pension Benefits | Other Benefits | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Net actuarial loss, beginning of period | $ | i 95,522 | $ | i 174 | $ | i 58,239 | $ | i 91 | |||||||||||||||
Amortization | ( i 570) | ( i 1) | ( i 376) | i — | |||||||||||||||||||
Actuarial gain | ( i 27,980) | ( i 53) | ( i 29,447) | ( i 17) | |||||||||||||||||||
Asset loss (gain) | ( i 1,505) | i — | i 40,578 | i — | |||||||||||||||||||
Currency translation loss (gain) | i 364 | i — | ( i 303) | i — | |||||||||||||||||||
Net actuarial loss, end of period | $ | i 65,831 | $ | i 120 | $ | i 68,691 | $ | i 74 |
Level 1 | Unadjusted quoted prices in active markets for identical assets or liabilities; | |||||||
Level 2 | Quoted prices in active markets for similar assets and liabilities and inputs that are observable for the asset or liability; or | |||||||
Level 3 | Unobservable inputs, such as discounted cash flow models or valuations. |
March 28, 2021 | December 27, 2020 | ||||||||||||||||||||||
Level 1 | Total | Level 1 | Total | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Assets: | |||||||||||||||||||||||
Commodity futures instruments | $ | i 4,171 | $ | i 4,171 | $ | i 13,285 | $ | i 13,285 | |||||||||||||||
Commodity options instruments | i 1,903 | i 1,903 | i 10,774 | i 10,774 | |||||||||||||||||||
Foreign currency instruments | i 2,410 | i 2,410 | i 2,204 | i 2,204 | |||||||||||||||||||
Liabilities: | |||||||||||||||||||||||
Commodity futures instruments | ( i 5,153) | ( i 5,153) | ( i 4,496) | ( i 4,496) | |||||||||||||||||||
Commodity options instruments | ( i 8,710) | ( i 8,710) | ( i 2,035) | ( i 2,035) | |||||||||||||||||||
Foreign currency instruments | ( i 7,180) | ( i 7,180) | ( i 428) | ( i 428) | |||||||||||||||||||
Interest rate swap instrument | ( i 538) | ( i 538) | ( i 640) | ( i 640) | |||||||||||||||||||
Sales contract instruments | ( i 18,104) | ( i 18,104) | i — | i — |
March 28, 2021 | December 27, 2020 | ||||||||||||||||||||||
Carrying Amount | Fair Value | Carrying Amount | Fair Value | ||||||||||||||||||||
(In thousands) | |||||||||||||||||||||||
Fixed-rate senior notes payable at i 5.75%,
at Level 2 inputs | $ | ( i 1,001,592) | $ | ( i 1,021,700) | $ | ( i 1,001,693) | $ | ( i 1,024,510) | |||||||||||||||
Fixed-rate
senior notes payable at i 5.875%, at Level 2 inputs | ( i 845,329) | ( i 901,000) | ( i 845,149) | ( i 911,957) | |||||||||||||||||||
Secured loans, at Level 3 inputs | ( i 32) | ( i 32) | ( i 38) | ( i 38) |
Three Months Ended | |||||||||||
March 28, 2021 | March 29, 2020 | ||||||||||
(In thousands) | |||||||||||
Sales to related parties | |||||||||||
JBS USA Food Company(a) | $ | i 3,065 | $ | i 3,453 | |||||||
JBS Australia Pty. Ltd. | i 883 | i 786 | |||||||||
Combo, Mercado de Congelados | i 451 | i 73 | |||||||||
JBS Chile Ltda. | i 88 | i — | |||||||||
Total sales to related parties | $ | i 4,487 | $ | i 4,312 |
Three Months Ended | |||||||||||
March 28, 2021 | March 29, 2020 | ||||||||||
(In thousands) | |||||||||||
Cost of goods purchased from related parties | |||||||||||
JBS USA Food Company(a) | $ | i 56,249 | $ | i 36,897 | |||||||
Penasul UK LTD | i 2,318 | i — | |||||||||
Seara Meats B.V. | i 1,701 | i 2,643 | |||||||||
JBS Global (U.K.) Ltd. | i 369 | i 226 | |||||||||
JBS Asia | i 5 | i — | |||||||||
JBS Toledo NV | i — | i 63 | |||||||||
Total cost of goods purchased from related parties | $ | i 60,642 | $ | i 39,829 |
Three Months Ended | |||||||||||
March 28, 2021 | March 29, 2020 | ||||||||||
(In thousands) | |||||||||||
Expenditures paid by related parties | |||||||||||
JBS
USA Food Company(b) | $ | i 23,745 | $ | i 8,081 | |||||||
Seara Food Europe Holdings | i 10 | i — | |||||||||
Total expenditures paid by related parties | $ | i 23,755 | $ | i 8,081 |
Three Months Ended | |||||||||||
March 28, 2021 | March 29, 2020 | ||||||||||
(In thousands) | |||||||||||
Expenditures paid on behalf of related parties | |||||||||||
JBS USA Food Company(b) | $ | i 16,374 | $ | i 2,420 | |||||||
March 28, 2021 | December 27, 2020 | ||||||||||
(In thousands) | |||||||||||
Accounts receivable from related parties | |||||||||||
JBS USA Food Company(a) | $ | i 478 | $ | i 714 | |||||||
JBS Australia Pty. Ltd. | i 437 | i 370 | |||||||||
Combo, Mercado de Congelados | i 296 | i — | |||||||||
JBS Chile Ltda. | i 16 | i — | |||||||||
Total accounts receivable from related parties | $ | i 1,227 | $ | i 1,084 |
March 28, 2021 | December 27, 2020 | ||||||||||
(In thousands) | |||||||||||
Accounts payable to related parties | |||||||||||
JBS USA Food Company(a) | $ | i 7,368 | $ | i 8,562 | |||||||
Penasul UK LTD | i 1,396 | i — | |||||||||
Seara Meats B.V. | i 524 | i 1,075 | |||||||||
JBS Global (U.K.) Ltd. | i 246 | i 5 | |||||||||
Seara Food Europe Holdings | i 10 | i — | |||||||||
JBS Chile Ltda. | i 8 | i 8 | |||||||||
JBS Asia | i 4 | i — | |||||||||
Total accounts payable to related parties | $ | i 9,556 | $ | i 9,650 |
Three Months Ended | |||||||||||
Net sales | |||||||||||
U.S. | $ | i 1,999,559 | $ | i 1,926,880 | |||||||
U.K. and Europe | i 854,734 | i 822,262 | |||||||||
Mexico | i 419,132 | i 325,786 | |||||||||
Total | $ | i 3,273,425 | $ | i 3,074,928 |
Three Months Ended | |||||||||||
March 28, 2021 | March 29, 2020 | ||||||||||
(In thousands) | |||||||||||
Reportable segment profit (loss) | |||||||||||
U.S. | $ | i 68,125 | $ | i 85,052 | |||||||
U.K. and Europe | i 10,495 | i 23,190 | |||||||||
Mexico | i 79,830 | ( i 23,880) | |||||||||
Eliminations | i 14 | i 24 | |||||||||
Total operating income | i 158,464 | i 84,386 | |||||||||
Interest expense, net of capitalized interest | i 30,334 | i 32,688 | |||||||||
Interest income | ( i 2,366) | ( i 1,690) | |||||||||
Foreign currency transaction loss (gain) | i 2,514 | ( i 18,385) | |||||||||
Miscellaneous, net | ( i 7,844) | ( i 34,188) | |||||||||
Income before income taxes | i 135,826 | i 105,961 | |||||||||
Income tax expense | i 35,358 | i 38,512 | |||||||||
Net income | $ | i 100,468 | $ | i 67,449 |
March 28, 2021 | December 27, 2020 | ||||||||||
(In thousands) | |||||||||||
Total assets | |||||||||||
U.S. | $ | i 5,265,188 | $ | i 5,189,021 | |||||||
U.K. and Europe | i 3,044,968 | i 3,034,219 | |||||||||
Mexico | i 1,132,460 | i 1,212,428 | |||||||||
Eliminations | ( i 1,961,855) | ( i 1,961,171) | |||||||||
Total assets | $ | i 7,480,761 | $ | i 7,474,497 |
March 28, 2021 | December 27, 2020 | ||||||||||
(In thousands) | |||||||||||
Long-lived assets(a) | |||||||||||
U.S. | $ | i i 1,843,425 / | $ | i 1,815,460 | |||||||
U.K. and Europe | i i 837,729 / | i 842,049 | |||||||||
Mexico | i 284,780 | i 292,651 | |||||||||
Eliminations | ( i 3,770) | ( i 3,783) | |||||||||
Total long-lived assets | $ | i 2,962,164 | $ | i 2,946,377 |
Sources of net sales | Three Months Ended March 28, 2021 | Change from Three Months Ended March 29, 2020 | |||||||||||||||||||||
Amount | Percent | ||||||||||||||||||||||
(In thousands, except percent data) | |||||||||||||||||||||||
U.S. | $ | 1,999,559 | $ | 72,679 | 3.8 | % | |||||||||||||||||
U.K. and Europe | 854,734 | 32,472 | 3.9 | % | |||||||||||||||||||
Mexico | 419,132 | 93,346 | 28.7 | % | |||||||||||||||||||
Total net sales | $ | 3,273,425 | $ | 198,497 | 6.5 | % |
Components of gross profit | Three Months Ended March 28, 2021 | Change from Three Months Ended March 29, 2020 | Percent of Net Sales | ||||||||||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||||||||||||
Amount | Percent | March 28, 2021 | March 29, 2020 | ||||||||||||||||||||||||||||||||
(In thousands, except percent data) | |||||||||||||||||||||||||||||||||||
Net sales | $ | 3,273,425 | $ | 198,497 | 6.5 | % | 100.0 | % | 100.0 | % | |||||||||||||||||||||||||
Cost of sales | 3,012,182 | 114,353 | 3.9 | % | 92.0 | % | 94.2 | % | |||||||||||||||||||||||||||
Gross profit | $ | 261,243 | $ | 84,144 | 47.5 | % | 8.0 | % | 5.8 | % |
Sources of gross profit | Three Months Ended March 28, 2021 | Change from Three Months Ended March 29, 2020 | |||||||||||||||||||||
Amount | Percent | ||||||||||||||||||||||
(In thousands, except percent data) | |||||||||||||||||||||||
U.S. | $ | 132,859 | $ | (5,244) | (3.8) | % | |||||||||||||||||
U.K. and Europe | 37,808 | (14,320) | (27.5) | % | |||||||||||||||||||
Mexico | 90,562 | 103,718 | (788.4) | % | |||||||||||||||||||
Elimination | 14 | (10) | (41.7) | % | |||||||||||||||||||
Total gross profit | $ | 261,243 | $ | 84,144 | 47.5 | % |
Sources of cost of sales | Three Months Ended March 28, 2021 | Change from Three Months Ended March 29, 2020 | |||||||||||||||||||||
Amount | Percent | ||||||||||||||||||||||
(In thousands, except percent data) | |||||||||||||||||||||||
U.S. | $ | 1,866,700 | $ | 77,923 | 4.4 | % | |||||||||||||||||
U.K. and Europe | 816,926 | 46,792 | 6.1 | % | |||||||||||||||||||
Mexico | 328,570 | (10,372) | (3.1) | % | |||||||||||||||||||
Elimination | (14) | 10 | (41.7) | % | |||||||||||||||||||
Total cost of sales | $ | 3,012,182 | $ | 114,353 | 3.9 | % | |||||||||||||||||
Components of operating income | Three Months Ended March 28, 2021 | Change from Three Months Ended March 29, 2020 | Percent of Net Sales | ||||||||||||||||||||||||||||||||
Three Months Ended | |||||||||||||||||||||||||||||||||||
Amount | Percent | March 28, 2021 | March 29, 2020 | ||||||||||||||||||||||||||||||||
(In thousands, except percent data) | |||||||||||||||||||||||||||||||||||
Gross profit | $ | 261,243 | $ | 84,144 | 47.5 | % | 8.0 | % | 5.8 | % | |||||||||||||||||||||||||
SG&A expense | 102,779 | 10,066 | 10.9 | % | 3.1 | % | 3.0 | % | |||||||||||||||||||||||||||
Operating income | $ | 158,464 | $ | 74,078 | 87.8 | % | 4.8 | % | 2.7 | % |
Sources of operating income | Three Months Ended March 28, 2021 | Change from Three Months Ended March 29, 2020 | |||||||||||||||||||||
Amount | Percent | ||||||||||||||||||||||
(In thousands, except percent data) | |||||||||||||||||||||||
U.S. | $ | 68,125 | $ | (16,927) | (19.9) | % | |||||||||||||||||
U.K. and Europe | 10,495 | (12,695) | (54.7) | % | |||||||||||||||||||
Mexico | 79,830 | 103,710 | (434.3) | % | |||||||||||||||||||
Eliminations | 14 | (10) | (41.7) | % | |||||||||||||||||||
Total operating income | $ | 158,464 | $ | 74,078 | 87.8 | % | |||||||||||||||||
Sources of SG&A expense | Three Months Ended March 28, 2021 | Change from Three Months Ended March 29, 2020 | |||||||||||||||||||||
Amount | Percent | ||||||||||||||||||||||
(In thousands, except percent data) | |||||||||||||||||||||||
U.S. | $ | 64,734 | $ | 11,683 | 22.0 | % | |||||||||||||||||
U.K. and Europe | 27,313 | (1,625) | (5.6) | % | |||||||||||||||||||
Mexico | 10,732 | 8 | 0.1 | % | |||||||||||||||||||
Total SG&A expense | $ | 102,779 | $ | 10,066 | 10.9 | % | |||||||||||||||||
Sources of Liquidity | Facility Amount | Amount Outstanding | Amount Available | |||||||||||||||||
(In millions) | ||||||||||||||||||||
Cash and cash equivalents | $ | — | $ | — | $ | 367.0 | ||||||||||||||
Borrowing arrangements: | ||||||||||||||||||||
U.S. Credit Facility(a) | 750.0 | 100.0 | 610.3 | |||||||||||||||||
Mexico Credit Facility(b) | 72.9 | — | 72.9 | |||||||||||||||||
U.K.
and Europe Credit Facilities(c) | 137.9 | — | 137.9 |
Cash Flows from Operating Activities | Three Months Ended | |||||||||||||
March 28, 2021 | March 29, 2020 | |||||||||||||
(In millions) | ||||||||||||||
Net income | $ | 100.5 | $ | 67.4 | ||||||||||
Net noncash expenses | 100.0 | 100.3 | ||||||||||||
Changes in operating assets and liabilities: | ||||||||||||||
Trade accounts and other receivables | (54.9) | (26.3) | ||||||||||||
Inventories | (82.6) | 9.3 | ||||||||||||
Prepaid expenses and other current assets | 20.2 | (22.4) | ||||||||||||
Accounts payable, accrued expenses and other current liabilities | (240.2) | (108.0) | ||||||||||||
Income taxes | 25.4 | — | ||||||||||||
Long-term pension and other postretirement obligations | (10.8) | (6.3) | ||||||||||||
Other operating assets and liabilities | (1.2) | 7.0 | ||||||||||||
Cash provided by (used in) operating activities | $ | (143.6) | $ | 21.1 |
Cash Flows from Investing Activities | Three Months Ended | |||||||||||||
March 28, 2021 | March 29, 2020 | |||||||||||||
(In millions) | ||||||||||||||
Acquisitions of property, plant and equipment | $ | (102.2) | $ | (77.2) | ||||||||||
Proceeds from property disposals | 13.1 | 0.6 | ||||||||||||
Business acquisition | — | (1.7) | ||||||||||||
Cash used in investing activities | $ | (89.1) | $ | (78.3) |
Cash Flows from Financing Activities | Three Months Ended | |||||||||||||
March 28, 2021 | March 29, 2020 | |||||||||||||
(In millions) | ||||||||||||||
Proceeds from revolving line of credit and long-term borrowings | $ | 328.9 | $ | 356.5 | ||||||||||
Payments on revolving line of credit, long-term borrowings and finance lease obligations | (235.3) | (13.4) | ||||||||||||
Distribution from Tax Sharing Agreement with JBS USA Food Company Holdings | (0.6) | — | ||||||||||||
Purchase of common stock under share repurchase program | — | (27.9) | ||||||||||||
Cash provided by financing activities | $ | 93.0 | $ | 315.2 |
Three Months Ended March 28, 2021 | |||||||||||
Amount | Impact of 10% Increase in Feed Ingredient Prices | ||||||||||
(In thousands) | |||||||||||
Feed purchases(a) | $ | 966,587 | $ | 96,659 | |||||||
Feed inventory(b) | 209,277 | 20,928 |
March 28, 2021 | |||||||||||
Amount | Impact of 10% Increase in Commodity Prices | ||||||||||
(In thousands) | |||||||||||
Net commodity derivative assets(a) | $ | 35,380 | $ | 3,538 |
Three Months Ended March 28, 2021 | |||||||||||
Impact of 10% Deterioration in Exchange Rate(a) | Impact
of 10% Appreciation in Exchange Rate(b) | ||||||||||
(In thousands, except for exchange rate data) | |||||||||||
Foreign currency remeasurement gain (loss) | $ | (13,708) | $ | 16,754 | |||||||
Exchange rate of Mexican peso to the U.S. dollar: | |||||||||||
As reported | 20.58 | 20.58 | |||||||||
Hypothetical 10% change | 22.64 | 18.53 |
Issuer Purchases of Equity Securities | ||||||||||||||||||||||||||
Period | Total Number of Shares Purchased | Average Price Paid per Share | Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs | Approximate Dollar Value of the Shares That May Yet Be Purchased Under the Plans or Programs (a) | ||||||||||||||||||||||
December 28, 2020 through January 24, 2021 | — | $ | — | 6,105,444 | $ | 89,060,082 | ||||||||||||||||||||
January 25, 2021 through February 28, 2021 | — | — | 6,105,444 | 89,060,082 | ||||||||||||||||||||||
March 1, 2021 through March 28, 2021 | — | — | 6,105,444 | 89,060,082 | ||||||||||||||||||||||
Total | — | $ | — | 6,105,444 | $ | 89,060,082 |
3.1 | ||||||||
3.2 | ||||||||
4.1 | ||||||||
10.1 | ||||||||
31.1 | ||||||||
31.2 | ||||||||
32.1 | ||||||||
32.2 | ||||||||
101.INS | Inline XBRL Instance Document | |||||||
101.SCH | Inline XBRL Taxonomy Extension Schema | |||||||
101.CAL | Inline XBRL Taxonomy Extension Calculation | |||||||
101.DEF | Inline XBRL Taxonomy Extension Definition | |||||||
101.LAB | Inline XBRL Taxonomy Extension Label | |||||||
101.PRE | Inline XBRL Taxonomy Extension Presentation | |||||||
104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) |
* | Filed herewith. | |||||||
** | Furnished herewith. | |||||||
† | Represents a management contract or compensation plan arrangement. | |||||||
PILGRIM’S PRIDE CORPORATION | |||||||||||
Date: April 28, 2021 | /s/ Matthew Galvanoni | ||||||||||
Matthew Galvanoni | |||||||||||
Chief Financial Officer and Chief Accounting Officer | |||||||||||
(Principal Financial Officer, Chief Accounting Officer and Duly Authorized Officer) |
This ‘10-Q’ Filing | Date | Other Filings | ||
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10/15/26 | ||||
7/1/26 | ||||
12/31/25 | ||||
7/1/25 | ||||
12/31/24 | ||||
7/1/24 | ||||
12/31/23 | ||||
12/14/23 | ||||
7/20/23 | ||||
7/1/23 | ||||
6/2/23 | ||||
4/12/23 | ||||
3/22/23 | ||||
2/1/23 | ||||
12/31/22 | ||||
12/1/22 | ||||
10/27/22 | ||||
10/17/22 | ||||
9/15/22 | ||||
7/1/22 | ||||
2/22/22 | ||||
2/1/22 | ||||
12/31/21 | ||||
12/26/21 | 10-K, 10-K/A | |||
10/15/21 | ||||
9/30/21 | ||||
7/2/21 | ||||
6/11/21 | 3 | |||
5/26/21 | ||||
5/6/21 | ||||
Filed as of: | 4/29/21 | 8-K | ||
Filed on: | 4/28/21 | 3, 4, 8-K, DEF 14A, PRE 14A | ||
4/19/21 | ||||
4/16/21 | ||||
4/14/21 | ||||
4/8/21 | 8-K | |||
For Period end: | 3/28/21 | |||
3/17/21 | ||||
3/15/21 | 3 | |||
3/10/21 | ||||
3/1/21 | ||||
2/28/21 | ||||
2/25/21 | ||||
2/24/21 | ||||
2/23/21 | ||||
2/22/21 | ||||
2/18/21 | ||||
2/11/21 | 10-K, 8-K | |||
2/10/21 | 4, 8-K | |||
2/1/21 | ||||
1/25/21 | ||||
1/24/21 | ||||
1/22/21 | ||||
1/11/21 | 8-K | |||
1/1/21 | ||||
12/28/20 | ||||
12/27/20 | 10-K, 10-K/A | |||
12/18/20 | ||||
12/15/20 | ||||
11/2/20 | ||||
10/14/20 | 8-K | |||
10/13/20 | ||||
10/6/20 | ||||
9/27/20 | 10-Q | |||
9/22/20 | 8-K | |||
9/16/20 | ||||
9/4/20 | ||||
9/1/20 | ||||
8/28/20 | ||||
8/6/20 | ||||
7/31/20 | ||||
7/27/20 | ||||
7/6/20 | ||||
6/15/20 | 8-K | |||
6/8/20 | 8-K | |||
6/4/20 | ||||
6/3/20 | 8-K | |||
4/28/20 | ||||
3/29/20 | 10-Q | |||
3/27/20 | 4, 5, DEF 14A | |||
3/12/20 | ||||
3/2/20 | ||||
2/12/20 | ||||
1/6/20 | ||||
12/30/19 | ||||
12/29/19 | 10-K, 5 | |||
12/20/19 | ||||
11/22/19 | ||||
11/12/19 | ||||
10/16/19 | ||||
8/30/19 | ||||
7/1/19 | ||||
12/14/18 | ||||
11/19/18 | ||||
10/31/18 | 10-Q, 8-K | |||
8/2/18 | 10-Q, 8-K | |||
7/20/18 | 8-K | |||
6/2/18 | ||||
4/25/18 | ||||
4/11/18 | ||||
3/30/18 | ||||
3/15/18 | ||||
3/14/18 | ||||
3/7/18 | ||||
12/8/17 | ||||
11/17/17 | ||||
9/29/17 | ||||
9/9/17 | ||||
8/1/17 | ||||
7/12/17 | ||||
6/12/17 | ||||
5/11/17 | 8-K | |||
4/17/17 | ||||
4/4/17 | ||||
3/9/17 | 4 | |||
2/21/17 | ||||
2/9/17 | 10-K, 8-K | |||
1/27/17 | ||||
10/13/16 | ||||
10/10/16 | ||||
10/6/16 | ||||
9/2/16 | ||||
9/15/15 | ||||
3/11/15 | 8-K | |||
2/21/14 | 10-K, 8-K | |||
1/1/09 | ||||
List all Filings |
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 12/23/22 Pilgrim’s Pride Corp. S-4 16:2.4M Donnelley … Solutions/FA 2/18/22 Pilgrim’s Pride Corp. 10-K 12/26/21 131:23M |
As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 4/09/21 Pilgrim’s Pride Corp. 8-K:1,2,7,9 4/08/21 14:44M 11/08/17 Pilgrim’s Pride Corp. 10-Q 9/24/17 105:14M 12/27/12 Pilgrim’s Pride Corp. 8-A12B 4:375K DG3/FA |