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As Of Filer Filing For·On·As Docs:Size 10/28/21 Pilgrims Pride Corp. 10-Q 9/26/21 100:17M |
Document/Exhibit Description Pages Size
1: 10-Q Quarterly Report HTML 1.51M
2: EX-10.2 Material Contract HTML 53K
3: EX-31.1 Certification -- §302 - SOA'02 HTML 32K
4: EX-31.2 Certification -- §302 - SOA'02 HTML 32K
5: EX-32.1 Certification -- §906 - SOA'02 HTML 27K
6: EX-32.2 Certification -- §906 - SOA'02 HTML 28K
13: R1 Cover Page HTML 79K
14: R2 Condensed Consolidated Balance Sheets HTML 157K
15: R3 Condensed Consolidated Statements of Income HTML 119K
16: R4 Condensed Consolidated Statements of Comprehensive HTML 101K
Income (Loss)
17: R5 Condensed Consolidated Statements of Stockholders' HTML 90K
Equity
18: R6 Condensed Consolidated Statements of Cash Flows HTML 120K
19: R7 General HTML 51K
20: R8 Revenue Recognition HTML 117K
21: R9 Derivative Financial Instruments HTML 114K
22: R10 Trade Accounts and Other Receivables HTML 45K
23: R11 Inventories HTML 36K
24: R12 Investments in Securities HTML 37K
25: R13 Goodwill and Intangible Assets HTML 74K
26: R14 Property, Plant and Equipment HTML 44K
27: R15 Current Liabilities HTML 53K
28: R16 Income Taxes HTML 34K
29: R17 Debt HTML 78K
30: R18 Stockholders' Equity HTML 90K
31: R19 Pension and Other Postretirement Benefits HTML 273K
32: R20 Stock-Based Compensation HTML 33K
33: R21 Fair Value Measurement HTML 74K
34: R22 Related Party Transactions HTML 107K
35: R23 Reportable Segments HTML 94K
36: R24 Commitments and Contingencies HTML 63K
37: R25 Business Acquisition HTML 43K
38: R26 General (Policies) HTML 48K
39: R27 General (Tables) HTML 43K
40: R28 Revenue Recognition (Tables) HTML 110K
41: R29 Derivative Financial Instruments (Tables) HTML 108K
42: R30 Trade Accounts and Other Receivables (Tables) HTML 46K
43: R31 Inventories (Tables) HTML 37K
44: R32 Investments in Securities (Tables) HTML 35K
45: R33 Goodwill and Intangible Assets (Tables) HTML 77K
46: R34 Property, Plant and Equipment (Tables) HTML 40K
47: R35 Current Liabilities (Tables) HTML 53K
48: R36 Debt (Tables) HTML 53K
49: R37 Stockholders' Equity (Tables) HTML 86K
50: R38 Pension and Other Postretirement Benefits (Tables) HTML 271K
51: R39 Fair Value Measurement (Tables) HTML 66K
52: R40 Related Party Transactions (Tables) HTML 105K
53: R41 Reportable Segments (Tables) HTML 89K
54: R42 Business Acquisition (Tables) HTML 40K
55: R43 GENERAL - Additional Information (Details) HTML 47K
56: R44 GENERAL - Cash, Cash Equivalents and Restricted HTML 36K
Cash (Details)
57: R45 REVENUE RECOGNITION - Disaggregated Revenue HTML 86K
(Details)
58: R46 REVENUE RECOGNITION - Contract Balances (Details) HTML 33K
59: R47 Derivative Financial Instruments (Schedule of HTML 53K
Outstanding Derivative Instruments and Cash
Collateral) (Details)
60: R48 Derivative Financial Instruments (Schedule of HTML 36K
Derivative Gains (Losses) and Location of Income
Expense) (Details)
61: R49 Derivative Financial Instruments (Schedule of Cash HTML 39K
Flow Hedges Included in AOCI (Details)
62: R50 Derivative Financial Instruments (Income and HTML 57K
Expense Line item in the Condensed Consolidated
Statements of Income) (Details)
63: R51 Derivative Financial Instruments (Narrative) HTML 32K
(Details)
64: R52 Trade Accounts and Other Receivables (Details) HTML 51K
65: R53 Inventories (Details) HTML 39K
66: R54 Investments in Securities (Details) HTML 37K
67: R55 GOODWILL AND INTANGIBLE ASSETS - Schedule of HTML 43K
Goodwill (Details)
68: R56 GOODWILL AND INTANGIBLE ASSETS - Schedule of HTML 71K
Intangible Assets (Details)
69: R57 GOODWILL AND INTANGIBLE ASSETS - Estimated Useful HTML 37K
Lives of Finite-Lived Intangible Assets (Details)
70: R58 Property, Plant and Equipment (Schedule of HTML 50K
Property, Plant and Equipment) (Details)
71: R59 Property, Plant and Equipment (Narrative) HTML 46K
(Details)
72: R60 Current Liabilities (Details) HTML 74K
73: R61 Income Taxes (Details) HTML 53K
74: R62 DEBT - Schedule of Long-term Debt and Other HTML 99K
Borrowing Arrangements (Details)
75: R63 DEBT - Narrative (Details) HTML 176K
76: R64 Stockholders' Equity (Schedule of Changes in HTML 78K
Accumulated Other Comprehensive Loss) (Details)
77: R65 Stockholders' Equity (Schedule of Reclassification HTML 74K
from Accumulated Other Comprehensive Loss)
(Details)
78: R66 Stockholders' Equity (Narrative) (Details) HTML 34K
79: R67 Pension and Other Postretirement Benefits HTML 77K
(Narrative) (Details)
80: R68 Pension and Other Postretirement Benefits HTML 103K
(Schedule of Defined Benefit Plan Obligations and
Assets) (Details)
81: R69 Pension and Other Postretirement Benefits HTML 55K
(Schedule of Net Defined Benefit Pension and Other
Postretirement Costs) (Details)
82: R70 Pension and Other Postretirement Benefits HTML 46K
(Schedule of Economic Assumptions and Impact of
Change in Discount Rate on Benefit Obligation)
(Details)
83: R71 Pension and Other Postretirement Benefits HTML 46K
(Schedule of Plan Asset Allocations) (Details)
84: R72 Pension and Other Postretirement Benefits HTML 113K
(Schedule of Fair Value Assumptions of Plan
Assets) (Details)
85: R73 Pension and Other Postretirement Benefits HTML 46K
(Schedule of Benefit Payments) (Details)
86: R74 Pension and Other Postretirement Benefits HTML 52K
(Schedule of Unrecognized Benefit Amounts)
(Details)
87: R75 Stock-Based Compensation (Narrative) (Details) HTML 56K
88: R76 Fair Value Measurement (Schedule of Assets and HTML 51K
Liabilities Measured on a Recurring Basis)
(Details)
89: R77 Fair Value Measurement (Schedule of Fair Value and HTML 67K
Carrying Amount of Debt Obligations) (Details)
90: R78 RELATED PARTY TRANSACTIONS -Schedule of Related HTML 81K
Party Transactions) (Details)
91: R79 REPORTABLE SEGMENTS - Narrative (Details) HTML 28K
92: R80 REPORTABLE SEGMENTS - Schedule of Segment HTML 82K
Reporting Information, by Segment (Details)
93: R81 REPORTABLE SEGMENTS - Schedule of Segment HTML 48K
Reporting, Goodwill and Assets (Details)
94: R82 Commitments and Contingencies (Details) HTML 81K
95: R83 BUSINESS ACQUISITION - Narrative (Details) HTML 35K
96: R84 BUSINESS ACQUISITION - Fair Values of Assets HTML 71K
Acquired and Liabilities Assumed (Details)
98: XML IDEA XML File -- Filing Summary XML 187K
12: XML XBRL Instance -- ppc-20210926_htm XML 4.50M
97: EXCEL IDEA Workbook of Financial Reports XLSX 149K
8: EX-101.CAL XBRL Calculations -- ppc-20210926_cal XML 280K
9: EX-101.DEF XBRL Definitions -- ppc-20210926_def XML 926K
10: EX-101.LAB XBRL Labels -- ppc-20210926_lab XML 2.18M
11: EX-101.PRE XBRL Presentations -- ppc-20210926_pre XML 1.34M
7: EX-101.SCH XBRL Schema -- ppc-20210926 XSD 227K
99: JSON XBRL Instance as JSON Data -- MetaLinks 535± 773K
100: ZIP XBRL Zipped Folder -- 0000802481-21-000105-xbrl Zip 788K
| ppc-20210926 |
| 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. | ||||||||
| Item 6. | ||||||||
| PILGRIM’S PRIDE CORPORATION | ||||||||||||||
| CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||||||||||
| (Unaudited) | ||||||||||||||
| September 26, 2021 | December 27, 2020 | |||||||||||||
| (In thousands) | ||||||||||||||
| Cash and cash equivalents | $ | i 511,084 | $ | i 547,624 | ||||||||||
| Restricted cash and cash equivalents | i 54,111 | i 782 | ||||||||||||
| Trade accounts and other receivables, less allowance for doubtful accounts | i 889,586 | i 741,992 | ||||||||||||
| Accounts receivable from related parties | i 1,330 | i 1,084 | ||||||||||||
| Inventories | i 1,556,821 | i 1,358,793 | ||||||||||||
| Income taxes receivable | i 51,619 | i 69,397 | ||||||||||||
| Prepaid expenses and other current assets | i 177,156 | i 183,039 | ||||||||||||
| Total current assets | i 3,241,707 | i 2,902,711 | ||||||||||||
| Deferred tax assets | i 5,465 | i 5,471 | ||||||||||||
| Other long-lived assets | i 26,190 | i 24,780 | ||||||||||||
| Operating lease assets, net | i 300,476 | i 288,886 | ||||||||||||
| Identified intangible assets, net | i 1,028,664 | i 589,913 | ||||||||||||
| Goodwill | i 1,381,872 | i 1,005,245 | ||||||||||||
| Property, plant and equipment, net | i 2,848,469 | i 2,657,491 | ||||||||||||
| Total assets | $ | i 8,832,843 | $ | i 7,474,497 | ||||||||||
| Accounts payable | $ | i 1,176,866 | $ | i 1,028,710 | ||||||||||
| Accounts payable to related parties | i 6,594 | i 9,650 | ||||||||||||
| Revenue contract liabilities | i 20,564 | i 65,918 | ||||||||||||
| Accrued expenses and other current liabilities | i 999,014 | i 807,847 | ||||||||||||
| Income taxes payable | i 48,006 | i — | ||||||||||||
| Current maturities of long-term debt | i 19,885 | i 25,455 | ||||||||||||
| Total current liabilities | i 2,270,929 | i 1,937,580 | ||||||||||||
| Noncurrent operating lease liability, less current maturities | i 223,071 | i 217,432 | ||||||||||||
| Long-term debt, less current maturities | i 3,195,866 | i 2,255,546 | ||||||||||||
| Deferred tax liabilities | i 418,430 | i 339,831 | ||||||||||||
| Other long-term liabilities | i 108,164 | i 148,761 | ||||||||||||
| Total liabilities | i 6,216,460 | i 4,899,150 | ||||||||||||
| Common stock | i 2,614 | i 2,612 | ||||||||||||
| Treasury stock | ( i 345,134) | ( i 345,134) | ||||||||||||
| Additional paid-in capital | i 1,962,750 | i 1,954,334 | ||||||||||||
| Retained earnings | i 966,815 | i 972,569 | ||||||||||||
| Accumulated other comprehensive income (loss) | i 17,198 | ( i 20,620) | ||||||||||||
| Total Pilgrim’s Pride Corporation stockholders’ equity | i 2,604,243 | i 2,563,761 | ||||||||||||
| Noncontrolling interest | i 12,140 | i 11,586 | ||||||||||||
| Total stockholders’ equity | i 2,616,383 | i 2,575,347 | ||||||||||||
| Total liabilities and stockholders’ equity | $ | i 8,832,843 | $ | i 7,474,497 | ||||||||||
| PILGRIM’S PRIDE CORPORATION | ||||||||||||||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF INCOME | ||||||||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||||||||||||
| September 26, 2021 | September 27, 2020 | September 26, 2021 | September 27, 2020 | |||||||||||||||||||||||
| (in thousands, except per share data) | ||||||||||||||||||||||||||
| Net sales | $ | i 3,827,566 | $ | i 3,075,121 | $ | i 10,738,689 | $ | i 8,974,072 | ||||||||||||||||||
| Cost of sales | i 3,455,723 | i 2,761,279 | i 9,725,362 | i 8,363,272 | ||||||||||||||||||||||
| Gross profit | i 371,843 | i 313,842 | i 1,013,327 | i 610,800 | ||||||||||||||||||||||
| Selling, general and administrative expense | i 251,066 | i 219,554 | i 857,217 | i 404,837 | ||||||||||||||||||||||
| Operating income | i 120,777 | i 94,288 | i 156,110 | i 205,963 | ||||||||||||||||||||||
| Interest expense, net of capitalized interest | i 29,833 | i 30,564 | i 110,818 | i 95,575 | ||||||||||||||||||||||
| Interest income | ( i 1,244) | ( i 1,763) | ( i 4,452) | ( i 4,611) | ||||||||||||||||||||||
| Foreign currency transaction loss (gain) | i 2,359 | i 9,092 | i 9,018 | ( i 3,768) | ||||||||||||||||||||||
| Miscellaneous, net | ( i 1,391) | i 360 | ( i 10,005) | ( i 33,873) | ||||||||||||||||||||||
| Income before income taxes | i 91,220 | i 56,035 | i 50,731 | i 152,640 | ||||||||||||||||||||||
| Income tax expense | i 30,385 | i 22,344 | i 55,931 | i 57,900 | ||||||||||||||||||||||
| Net income (loss) | i 60,835 | i 33,691 | ( i 5,200) | i 94,740 | ||||||||||||||||||||||
| Less: Net income attributable to noncontrolling interests | i 110 | i 245 | i 554 | i 62 | ||||||||||||||||||||||
| Net income (loss) attributable to Pilgrim’s Pride Corporation | $ | i 60,725 | $ | i 33,446 | $ | ( i 5,754) | $ | i 94,678 | ||||||||||||||||||
Weighted
average shares of Pilgrim’s Pride Corporation common stock outstanding: | ||||||||||||||||||||||||||
| Basic | i 243,675 | i 244,186 | i 243,643 | i 246,740 | ||||||||||||||||||||||
| Effect of dilutive common stock equivalents | i 520 | i 190 | i — | i 158 | ||||||||||||||||||||||
| Diluted | i 244,195 | i 244,376 | i 243,643 | i 246,898 | ||||||||||||||||||||||
Net
income (loss) attributable to Pilgrim’s Pride Corporation per share of common stock outstanding: | ||||||||||||||||||||||||||
| Basic | $ | i 0.25 | $ | i 0.14 | $ | ( i 0.02) | $ | i 0.38 | ||||||||||||||||||
| Diluted | $ | i 0.25 | $ | i 0.14 | $ | ( i 0.02) | $ | i 0.38 | ||||||||||||||||||
| PILGRIM’S PRIDE CORPORATION | |||||||||||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | |||||||||||||||||||||||
| (Unaudited) | |||||||||||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| September 26, 2021 | September 27, 2020 | September 26, 2021 | September 27, 2020 | ||||||||||||||||||||
| (In thousands) | |||||||||||||||||||||||
| Net income (loss) | $ | i 60,835 | $ | i 33,691 | $ | ( i 5,200) | $ | i 94,740 | |||||||||||||||
| Other comprehensive income (loss): | |||||||||||||||||||||||
| Foreign currency translation adjustment: | |||||||||||||||||||||||
| Gains (losses) arising during the period | ( i 36,003) | i 66,626 | i 13,135 | ( i 48,921) | |||||||||||||||||||
| Derivative financial instruments designated as cash flow hedges: | |||||||||||||||||||||||
| Gains (losses) arising during the period | ( i 1,030) | i 1,281 | i 1,179 | i 3,182 | |||||||||||||||||||
| Income tax effect | i 9 | i 194 | i 41 | i 194 | |||||||||||||||||||
| Reclassification to net earnings for losses (gains) realized | i 102 | ( i 1,619) | ( i 1,146) | ( i 1,039) | |||||||||||||||||||
| Income tax effect | ( i 43) | i — | ( i 115) | i — | |||||||||||||||||||
| Available-for-sale securities: | |||||||||||||||||||||||
| Gains (losses) arising during the period | i — | ( i 8) | i — | i 6 | |||||||||||||||||||
| Income tax effect | i — | i — | i — | ( i 4) | |||||||||||||||||||
| Reclassification to net earnings for gains realized | i — | ( i 6) | i — | ( i 18) | |||||||||||||||||||
| Income tax effect | i — | i 1 | i — | i 4 | |||||||||||||||||||
| Defined benefit plans: | |||||||||||||||||||||||
| Gains (losses) arising during the period | ( i 7,073) | i 1,250 | i 32,030 | ( i 43,711) | |||||||||||||||||||
| Income tax effect | i 1,412 | ( i 10,094) | ( i 8,506) | ( i 930) | |||||||||||||||||||
| Reclassification to net earnings of losses realized | i 613 | i 376 | i 1,568 | i 1,127 | |||||||||||||||||||
| Income tax effect | ( i 143) | ( i 94) | ( i 368) | ( i 281) | |||||||||||||||||||
| Total other comprehensive income (loss), net of tax | ( i 42,156) | i 57,907 | i 37,818 | ( i 90,391) | |||||||||||||||||||
| Comprehensive income | i 18,679 | i 91,598 | i 32,618 | i 4,349 | |||||||||||||||||||
| Less: Comprehensive income attributable to noncontrolling interests | i 110 | i 245 | i 554 | i 62 | |||||||||||||||||||
| Comprehensive income attributable to Pilgrim’s Pride Corporation | $ | i 18,569 | $ | i 91,353 | $ | i 32,064 | $ | i 4,287 | |||||||||||||||
| PILGRIM’S PRIDE CORPORATION | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| (Unaudited) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Nine Months Ended September 26, 2021 | Common Stock | Treasury Stock | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Income (Loss) | 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 loss | — | — | — | — | — | ( i 5,754) | — | i 554 | ( i 5,200) | |||||||||||||||||||||||||||||||||||||||||||||||
| Other comprehensive income, net of tax | — | — | — | — | — | — | i 37,818 | — | i 37,818 | |||||||||||||||||||||||||||||||||||||||||||||||
| Stock-based compensation plans: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Common stock issued under compensation plans | i 162 | i 2 | — | — | ( i 2) | — | — | — | i — | |||||||||||||||||||||||||||||||||||||||||||||||
| Requisite service period recognition | — | — | — | — | i 8,418 | — | — | — | i 8,418 | |||||||||||||||||||||||||||||||||||||||||||||||
| Balance at September 26, 2021 | i 261,347 | $ | i 2,614 | ( i 17,673) | $ | ( i 345,134) | $ | i 1,962,750 | $ | i 966,815 | $ | i 17,198 | $ | i 12,140 | $ | i 2,616,383 | ||||||||||||||||||||||||||||||||||||||||
| Three Months Ended September 26, 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 June 27, 2021 | i 261,347 | $ | i 2,614 | ( i 17,673) | $ | ( i 345,134) | $ | i 1,959,558 | $ | i 906,090 | $ | i 59,354 | $ | i 12,030 | $ | i 2,594,512 | ||||||||||||||||||||||||||||||||||||||||
| Net income | — | — | — | — | — | i 60,725 | — | i 110 | i 60,835 | |||||||||||||||||||||||||||||||||||||||||||||||
| Other comprehensive loss, net of tax | — | — | — | — | — | — | ( i 42,156) | — | ( i 42,156) | |||||||||||||||||||||||||||||||||||||||||||||||
| Stock-based compensation plans: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Common stock issued under compensation plans | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||
| Requisite service period recognition | — | — | — | — | i 3,192 | — | — | — | i 3,192 | |||||||||||||||||||||||||||||||||||||||||||||||
| Balance at September 26, 2021 | i 261,347 | $ | i 2,614 | ( i 17,673) | $ | ( i 345,134) | $ | i 1,962,750 | $ | i 966,815 | $ | i 17,198 | $ | i 12,140 | $ | i 2,616,383 | ||||||||||||||||||||||||||||||||||||||||
| Nine Months Ended September 27, 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 94,678 | — | i 62 | i 94,740 | |||||||||||||||||||||||||||||||||||||||||||||||
| Other comprehensive loss, net of tax | — | — | — | — | — | — | ( i 90,391) | — | ( i 90,391) | |||||||||||||||||||||||||||||||||||||||||||||||
| Stock-based compensation plans: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Common stock issued under compensation plans | i 66 | i 1 | — | — | ( i 1) | — | — | — | i — | |||||||||||||||||||||||||||||||||||||||||||||||
| Requisite service period recognition | — | — | — | — | ( i 1,291) | — | — | — | ( i 1,291) | |||||||||||||||||||||||||||||||||||||||||||||||
| Common stock purchased under share repurchase program | — | — | ( i 5,974) | ( i 107,806) | — | — | — | — | ( i 107,806) | |||||||||||||||||||||||||||||||||||||||||||||||
| Balance at September 27, 2020 | i 261,185 | $ | i 2,612 | ( i 17,521) | $ | ( i 342,698) | $ | i 1,953,969 | $ | i 972,490 | $ | ( i 165,520) | $ | i 10,459 | $ | i 2,431,312 | ||||||||||||||||||||||||||||||||||||||||
| Three Months Ended September 27, 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 June 28, 2020 | i 261,185 | $ | i 2,612 | ( i 15,668) | $ | ( i 312,771) | $ | i 1,958,727 | $ | i 939,044 | $ | ( i 223,427) | $ | i 10,214 | $ | i 2,374,399 | ||||||||||||||||||||||||||||||||||||||||
| Net income | — | — | — | — | — | i 33,446 | — | i 245 | i 33,691 | |||||||||||||||||||||||||||||||||||||||||||||||
| Other comprehensive income, net of tax | — | — | — | — | — | — | i 57,907 | — | i 57,907 | |||||||||||||||||||||||||||||||||||||||||||||||
| Stock-based compensation plans: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Common stock issued under compensation plans | — | — | — | — | — | — | — | — | — | |||||||||||||||||||||||||||||||||||||||||||||||
| Requisite service period recognition | — | — | — | — | ( i 4,758) | — | — | — | ( i 4,758) | |||||||||||||||||||||||||||||||||||||||||||||||
| Common stock purchased under share repurchase program | — | — | ( i 1,853) | ( i 29,927) | — | — | — | — | ( i 29,927) | |||||||||||||||||||||||||||||||||||||||||||||||
| Balance at September 27, 2020 | i 261,185 | $ | i 2,612 | ( i 17,521) | $ | ( i 342,698) | $ | i 1,953,969 | $ | i 972,490 | $ | ( i 165,520) | $ | i 10,459 | $ | i 2,431,312 | ||||||||||||||||||||||||||||||||||||||||
| PILGRIM’S PRIDE CORPORATION | ||||||||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||||||||
| (Unaudited) | ||||||||||||||
| Nine Months Ended | ||||||||||||||
| September 26, 2021 | September 27, 2020 | |||||||||||||
| (In thousands) | ||||||||||||||
| Cash flows from operating activities: | ||||||||||||||
| Net income (loss) | $ | ( i 5,200) | $ | i 94,740 | ||||||||||
| Adjustments to reconcile net income to cash provided by operating activities: | ||||||||||||||
| Depreciation and amortization | i 274,336 | i 248,641 | ||||||||||||
| Deferred income tax expense (benefit) | ( i 26,436) | i 37,739 | ||||||||||||
| Loss on early extinguishment of debt recognized as a component of interest expense | i 24,654 | i — | ||||||||||||
| Stock-based compensation | i 8,418 | ( i 1,291) | ||||||||||||
| Loan cost amortization | i 3,762 | i 3,635 | ||||||||||||
| Gain on property disposals | ( i 3,605) | ( i 8,009) | ||||||||||||
| Accretion of discount related to Senior Notes | i 1,104 | i 737 | ||||||||||||
| Amortization of premium related to Senior Notes | ( i 167) | ( i 501) | ||||||||||||
| Loss (gain) on equity-method investments | ( i 12) | i 297 | ||||||||||||
| Negative adjustment to previously recognized gain on bargain purchase | i — | i 3,746 | ||||||||||||
| Changes in operating assets and liabilities: | ||||||||||||||
| Trade accounts and other receivables | ( i 138,948) | i 44,615 | ||||||||||||
| Inventories | ( i 149,653) | i 41,292 | ||||||||||||
| Prepaid expenses and other current assets | i 13,718 | ( i 29,290) | ||||||||||||
| Accounts payable, accrued expenses and other current liabilities | i 274,932 | i 93,114 | ||||||||||||
| Income taxes | i 66,413 | ( i 30,868) | ||||||||||||
| Long-term pension and other postretirement obligations | ( i 13,491) | ( i 823) | ||||||||||||
| Other operating assets and liabilities | ( i 2,330) | i 10,561 | ||||||||||||
| Cash provided by operating activities | i 327,495 | i 508,335 | ||||||||||||
| Cash flows from investing activities: | ||||||||||||||
| Acquisitions of property, plant and equipment | ( i 280,820) | ( i 242,603) | ||||||||||||
| Proceeds from property disposals | i 22,896 | i 21,715 | ||||||||||||
| Purchase of acquired business, net of cash acquired | ( i 953,947) | ( i 4,216) | ||||||||||||
| Cash used in investing activities | ( i 1,211,871) | ( i 225,104) | ||||||||||||
| Cash flows from financing activities: | ||||||||||||||
| Proceeds from revolving line of credit and long-term borrowings | i 2,951,707 | i 386,696 | ||||||||||||
| Payments on revolving line of credit, long-term borrowings and finance lease obligations | ( i 2,005,960) | ( i 56,763) | ||||||||||||
| Payments on early extinguishment of debt | ( i 21,258) | i — | ||||||||||||
| Payments of capitalized loan costs | ( i 22,293) | i — | ||||||||||||
| 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 107,806) | ||||||||||||
| Cash provided by financing activities | i 901,546 | i 222,127 | ||||||||||||
| Effect of exchange rate changes on cash and cash equivalents | ( i 381) | ( i 799) | ||||||||||||
| Increase in cash, cash equivalents and restricted cash | i 16,789 | i 504,559 | ||||||||||||
| 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 565,195 | $ | i 785,136 | ||||||||||
| September 26, 2021 | December 27, 2020 | |||||||||||||
| (In thousands) | ||||||||||||||
| Cash and cash equivalents | $ | i 511,084 | $ | i 547,624 | ||||||||||
| Restricted cash | i 54,111 | i 782 | ||||||||||||
| Total cash, cash equivalents and restricted cash shown in the Condensed Consolidated Statements of Cash Flows | $ | i 565,195 | $ | i 548,406 | ||||||||||
| Three Months Ended September 26, 2021 | |||||||||||||||||||||||||||||
| (In thousands) | |||||||||||||||||||||||||||||
| Fresh | Prepared | Export | Other | Total | |||||||||||||||||||||||||
| U.S. chicken | $ | i 1,931,953 | $ | i 235,763 | $ | i 117,454 | $ | i 181,680 | $ | i 2,466,850 | |||||||||||||||||||
| U.K. and Europe chicken | i 195,967 | i 274,275 | i 83,430 | i 22,036 | i 575,708 | ||||||||||||||||||||||||
| Mexico chicken | i 375,470 | i 31,209 | i — | i 23,597 | i 430,276 | ||||||||||||||||||||||||
| Total chicken | i 2,503,390 | i 541,247 | i 200,884 | i 227,313 | i 3,472,834 | ||||||||||||||||||||||||
| U.K. and Europe pork | i 52,265 | i 269,563 | i 21,012 | i 11,892 | i 354,732 | ||||||||||||||||||||||||
| Total net sales | $ | i 2,555,655 | $ | i 810,810 | $ | i 221,896 | $ | i 239,205 | $ | i 3,827,566 | |||||||||||||||||||
| Three Months Ended September 27, 2020 | |||||||||||||||||||||||||||||
| (In thousands) | |||||||||||||||||||||||||||||
| Fresh | Prepared | Export | Other | Total | |||||||||||||||||||||||||
| U.S. chicken | $ | i 1,590,003 | $ | i 163,604 | $ | i 58,871 | $ | i 81,744 | i 1,894,222 | ||||||||||||||||||||
| U.K. and Europe chicken | i 221,862 | i 201,884 | i 62,783 | i 17,368 | i 503,897 | ||||||||||||||||||||||||
| Mexico chicken | i 314,233 | i 10,830 | i — | i 10,159 | i 335,222 | ||||||||||||||||||||||||
| Total chicken | i 2,126,098 | i 376,318 | i 121,654 | i 109,271 | i 2,733,341 | ||||||||||||||||||||||||
| U.K. and Europe pork | i 176,667 | i 125,963 | i 18,378 | i 20,772 | i 341,780 | ||||||||||||||||||||||||
| Total net sales | $ | i 2,302,765 | $ | i 502,281 | $ | i 140,032 | $ | i 130,043 | $ | i 3,075,121 | |||||||||||||||||||
| Nine Months Ended September 26, 2021 | |||||||||||||||||||||||||||||
| (In thousands) | |||||||||||||||||||||||||||||
| Fresh | Prepared | Export | Other | Total | |||||||||||||||||||||||||
| U.S. chicken | $ | i 5,337,016 | $ | i 637,344 | $ | i 347,269 | $ | i 393,250 | $ | i 6,714,879 | |||||||||||||||||||
| U.K. and Europe chicken | i 624,414 | i 735,985 | i 223,147 | i 55,764 | i 1,639,310 | ||||||||||||||||||||||||
| Mexico chicken | i 1,150,486 | i 88,352 | i — | i 63,953 | i 1,302,791 | ||||||||||||||||||||||||
| Total chicken | i 7,111,916 | i 1,461,681 | i 570,416 | i 512,967 | i 9,656,980 | ||||||||||||||||||||||||
| U.K. and Europe pork | i 290,673 | i 709,743 | i 55,489 | i 25,804 | i 1,081,709 | ||||||||||||||||||||||||
| Total net sales | $ | i 7,402,589 | $ | i 2,171,424 | $ | i 625,905 | $ | i 538,771 | $ | i 10,738,689 | |||||||||||||||||||
| Nine Months Ended September 27, 2020 | |||||||||||||||||||||||||||||
| (In thousands) | |||||||||||||||||||||||||||||
| Fresh | Prepared | Export | Other | Total | |||||||||||||||||||||||||
| U.S. chicken | $ | i 4,584,162 | $ | i 535,960 | $ | i 215,194 | $ | i 284,475 | $ | i 5,619,791 | |||||||||||||||||||
| U.K. and Europe chicken | i 678,369 | i 533,862 | i 164,657 | i 49,154 | i 1,426,042 | ||||||||||||||||||||||||
| Mexico chicken | i 843,835 | i 54,315 | i — | i 30,991 | i 929,141 | ||||||||||||||||||||||||
| Total chicken | i 6,106,366 | i 1,124,137 | i 379,851 | i 364,620 | i 7,974,974 | ||||||||||||||||||||||||
| U.K. and Europe pork | i 509,663 | i 382,500 | i 52,521 | i 54,414 | i 999,098 | ||||||||||||||||||||||||
| Total net sales | $ | i 6,616,029 | $ | i 1,506,637 | $ | i 432,372 | $ | i 419,034 | $ | i 8,974,072 | |||||||||||||||||||
| September 26, 2021 | |||||
| (In thousands) | |||||
| Balance as of December 27, 2020 | $ | i 65,918 | |||
| Revenue recognized | ( i 57,494) | ||||
| Cash received, excluding amounts recognized as revenue during the period | i 12,140 | ||||
| Balance as of September 26, 2021 | $ | i 20,564 | |||
| September 26, 2021 | December 27, 2020 | ||||||||||
| (In thousands) | |||||||||||
| Fair values | |||||||||||
| Commodity derivative assets | $ | i 8,443 | $ | i 24,059 | |||||||
| Commodity derivative liabilities | ( i 29,744) | ( i 6,531) | |||||||||
| Foreign currency derivative assets | i 1,814 | i 2,204 | |||||||||
| Foreign currency derivative liabilities | ( i 139) | ( i 428) | |||||||||
| Interest rate swap derivative liabilities | ( i 345) | ( i 640) | |||||||||
| Sales contract derivative assets | i 2,201 | i — | |||||||||
Cash
collateral posted with brokers(a) | i 54,111 | i 782 | |||||||||
Derivatives
coverage(b): | |||||||||||
| Corn | i 13.8 | % | i 16.0 | % | |||||||
| Soybean meal | i 35.0 | % | i 24.0 | % | |||||||
| Period through which stated percent of needs are covered: | |||||||||||
| Corn | September 2022 | December 2021 | |||||||||
| Soybean meal | March 2022 | December 2021 | |||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||||||||
Losses (Gains) by Type of Contract (a) | September 26, 2021 | September 27, 2020 | September 26, 2021 | September 27, 2020 | Affected Line Item in the Condensed Consolidated Statements of Income | ||||||||||||||||||||||||
| (In thousands) | |||||||||||||||||||||||||||||
| Foreign currency derivatives gain (loss) | $ | ( i 4,493) | $ | ( i 7,741) | $ | ( i 7,975) | $ | i 19,815 | Foreign currency transaction loss (gain) | ||||||||||||||||||||
| Commodity derivative gain | i 25,632 | i 19,883 | i 44,430 | i 9,458 | Cost of sales | ||||||||||||||||||||||||
| Sales contract derivative gain (loss) | ( i 2,932) | i — | i 2,201 | i — | Net sales | ||||||||||||||||||||||||
| Total | $ | i 18,207 | $ | i 12,142 | $ | i 38,656 | $ | i 29,273 | |||||||||||||||||||||
| Gain (Loss) Recognized in Other Comprehensive Income on Derivative | |||||||||||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| September 26, 2021 | September 27, 2020 | September 26, 2021 | September 27, 2020 | ||||||||||||||||||||
| (In thousands) | |||||||||||||||||||||||
| Foreign currency derivatives | $ | ( i 984) | $ | i 1,388 | $ | i 1,327 | i 4,088 | ||||||||||||||||
| Interest rate swap derivatives | ( i 35) | i 50 | ( i 164) | ( i 879) | |||||||||||||||||||
| Total | $ | ( i 1,019) | $ | i 1,438 | $ | i 1,163 | i 3,209 | ||||||||||||||||
| Three Months Ended September 26, 2021 | Three Months Ended September 27, 2020 | ||||||||||||||||||||||||||||||||||
Net sales(a) | Cost of sales(b) | Interest expense, net of capitalized interest(b) | Net sales(a) | Cost of sales(b) | Interest
expense, net of capitalized interest(b) | ||||||||||||||||||||||||||||||
| (In thousands) | |||||||||||||||||||||||||||||||||||
| Total amounts of income and expense line items presented in the Condensed Consolidated Statements of Income in which the effects of cash flow hedges are recorded | $ | i 3,827,566 | $ | i 3,455,723 | $ | i 29,833 | $ | i 3,075,121 | $ | i 2,761,279 | $ | i 30,564 | |||||||||||||||||||||||
| Impact from cash flow hedging instruments: | |||||||||||||||||||||||||||||||||||
| Interest rates swaps | — | — | i 170 | — | — | i 101 | |||||||||||||||||||||||||||||
| Foreign currency contracts | i 67 | ( i 2) | — | ( i 206) | i 649 | — | |||||||||||||||||||||||||||||
| Nine Months Ended September 26, 2021 | Nine Months Ended September 27, 2020 | ||||||||||||||||||||||||||||||||||
Net sales(a) | Cost of sales(b) | Interest expense, net of capitalized interest(b) | Net sales(a) | Cost of sales(b) | Interest
expense, net of capitalized interest(b) | ||||||||||||||||||||||||||||||
| (In thousands) | |||||||||||||||||||||||||||||||||||
| Total amounts of income and expense line items presented in the Condensed Consolidated Statements of Income in which the effects of cash flow hedges are recorded | $ | i 10,738,689 | $ | i 9,725,362 | $ | i 110,818 | $ | i 8,974,072 | $ | i 8,363,272 | $ | i 95,575 | |||||||||||||||||||||||
| Impact from cash flow hedging instruments: | |||||||||||||||||||||||||||||||||||
| Interest rates swaps | — | — | i 460 | — | — | i 99 | |||||||||||||||||||||||||||||
| Foreign currency contracts | i 2,475 | i 868 | — | ( i 656) | i 517 | — | |||||||||||||||||||||||||||||
| September 26, 2021 | December 27, 2020 | |||||||||||||
| (In thousands) | ||||||||||||||
| Trade accounts receivable | $ | i 822,878 | $ | i 691,499 | ||||||||||
| Notes receivable | i 25,079 | i 25,712 | ||||||||||||
| Other receivables | i 49,220 | i 31,954 | ||||||||||||
| Receivables, gross | i 897,177 | i 749,165 | ||||||||||||
| Allowance for doubtful accounts | ( i 7,591) | ( i 7,173) | ||||||||||||
| Receivables, net | $ | i 889,586 | $ | i 741,992 | ||||||||||
Accounts
receivable from related parties(a) | $ | i 1,330 | $ | i 1,084 | ||||||||||
| September 26, 2021 | ||||||||
| (In thousands) | ||||||||
| Balance, beginning of period | $ | ( i 7,173) | ||||||
| Provision charged to operating results | ( i 436) | |||||||
| Account write-offs and recoveries | i 4 | |||||||
| Effect of exchange rate | i 14 | |||||||
| Balance, end of period | $ | ( i 7,591) | ||||||
| September 26, 2021 | December 27, 2020 | ||||||||||
| (In thousands) | |||||||||||
| Raw materials and work-in-process | $ | i 1,040,242 | $ | i 868,369 | |||||||
| Finished products | i 382,799 | i 356,052 | |||||||||
| Operating supplies | i 62,830 | i 66,495 | |||||||||
| Maintenance materials and parts | i 70,950 | i 67,877 | |||||||||
| Total inventories | $ | i 1,556,821 | $ | i 1,358,793 | |||||||
| September 26, 2021 | December 27, 2020 | |||||||||||||||||||||||||
| Cost | Fair Value | Cost | Fair Value | |||||||||||||||||||||||
| (In thousands) | ||||||||||||||||||||||||||
| Cash equivalents: | ||||||||||||||||||||||||||
| Fixed income securities | $ | i 79,394 | $ | i 79,394 | $ | i 178,677 | $ | i 178,677 | ||||||||||||||||||
| December 27, 2020 | Additions | Currency Translation | September 26, 2021 | |||||||||||||||||||||||||||||
| (In thousands) | ||||||||||||||||||||||||||||||||
| U.S. | $ | i 41,936 | $ | i — | $ | i — | $ | i 41,936 | ||||||||||||||||||||||||
| U.K. and Europe | i 835,505 | i 370,237 | i 6,390 | i 1,212,132 | ||||||||||||||||||||||||||||
| Mexico | i 127,804 | i — | i — | i 127,804 | ||||||||||||||||||||||||||||
| Total | $ | i 1,005,245 | $ | i 370,237 | $ | i 6,390 | $ | i 1,381,872 | ||||||||||||||||||||||||
| December 27, 2020 | Additions | Amortization | Currency Translation | September 26, 2021 | ||||||||||||||||||||||||||||||||||||||||
| (In thousands) | ||||||||||||||||||||||||||||||||||||||||||||
| Cost: | ||||||||||||||||||||||||||||||||||||||||||||
| Trade names | $ | i 78,343 | $ | i — | $ | — | $ | i — | $ | i 78,343 | ||||||||||||||||||||||||||||||||||
| Customer relationships | i 297,062 | i 395,719 | — | i 195 | i 692,976 | |||||||||||||||||||||||||||||||||||||||
| Non-compete agreements | i 320 | i — | — | i — | i 320 | |||||||||||||||||||||||||||||||||||||||
| Trade names not subject to amortization | i 405,240 | i 57,349 | — | i 3,257 | i 465,846 | |||||||||||||||||||||||||||||||||||||||
| Accumulated amortization: | ||||||||||||||||||||||||||||||||||||||||||||
| Trade names | ( i 47,486) | — | ( i 1,476) | i — | ( i 48,962) | |||||||||||||||||||||||||||||||||||||||
| Customer relationships | ( i 143,246) | — | ( i 16,010) | ( i 283) | ( i 159,539) | |||||||||||||||||||||||||||||||||||||||
| Non-compete agreements | ( i 320) | — | i — | i — | ( i 320) | |||||||||||||||||||||||||||||||||||||||
| Intangible assets, net | $ | i 589,913 | $ | i 453,068 | $ | ( i 17,486) | $ | i 3,169 | $ | i 1,028,664 | ||||||||||||||||||||||||||||||||||
| Customer relationships | i 3- i 20 years | ||||
| Trade names subject to amortization | i 20 years | ||||
| Non-compete agreements | i 3 years | ||||
| September 26, 2021 | December 27, 2020 | ||||||||||
| (In thousands) | |||||||||||
| Land | $ | i 258,701 | $ | i 255,171 | |||||||
| Buildings | i 2,075,174 | i 1,983,823 | |||||||||
| Machinery and equipment | i 3,444,602 | i 3,230,199 | |||||||||
| Autos and trucks | i 74,524 | i 73,647 | |||||||||
| Finance leases | i 2,182 | i 2,182 | |||||||||
| Construction-in-progress | i 213,488 | i 199,161 | |||||||||
| PP&E, gross | i 6,068,671 | i 5,744,183 | |||||||||
| Accumulated depreciation | ( i 3,220,202) | ( i 3,086,692) | |||||||||
| PP&E, net | $ | i 2,848,469 | $ | i 2,657,491 | |||||||
| September 26, 2021 | December 27, 2020 | ||||||||||||||||
| (In thousands) | |||||||||||||||||
| Accounts payable: | |||||||||||||||||
| Trade accounts | $ | i 1,093,534 | $ | i 904,674 | |||||||||||||
| Book overdrafts | i 64,908 | i 106,435 | |||||||||||||||
| Other payables | i 18,424 | i 17,601 | |||||||||||||||
| Total accounts payable | i 1,176,866 | i 1,028,710 | |||||||||||||||
Accounts
payable to related parties(a) | i 6,594 | i 9,650 | |||||||||||||||
Revenue
contract liabilities(b) | i 20,564 | i 65,918 | |||||||||||||||
| Accrued expenses and other current liabilities: | |||||||||||||||||
Legal settlements(c) | i 312,500 | i 75,000 | |||||||||||||||
| Compensation and benefits | i 197,206 | i 189,767 | |||||||||||||||
| Taxes | i 83,072 | i 67,812 | |||||||||||||||
| Current maturities of operating lease liabilities | i 76,318 | i 71,592 | |||||||||||||||
| Insurance and self-insured claims | i 63,036 | i 61,212 | |||||||||||||||
| Interest and debt-related fees | i 47,670 | i 29,559 | |||||||||||||||
| Accrued sales rebates | i 47,252 | i 44,708 | |||||||||||||||
| Derivative liabilities | i 30,228 | i 7,599 | |||||||||||||||
| U.S. Department of Justice agreement | i — | i 110,524 | |||||||||||||||
| Other accrued expenses | i 141,732 | i 150,074 | |||||||||||||||
| Total accrued expenses and other current liabilities | i 999,014 | i 807,847 | |||||||||||||||
| Total accounts payable, accrued expenses and other current liabilities | $ | i 2,203,038 | $ | i 1,912,125 | |||||||||||||
| Maturity | September 26, 2021 | December 27, 2020 | |||||||||||||||
| (In thousands) | |||||||||||||||||
Senior notes payable, net of discount at i 3.50% | 2032 | $ | i 900,000 | $ | i — | ||||||||||||
Senior
notes payable, net of discount at i 4.25% | 2031 | i 990,440 | i — | ||||||||||||||
Senior
notes payable, net of discount at i 5.875% | 2027 | i 845,687 | i 845,149 | ||||||||||||||
Senior
notes payable, net of premium and discount at i 5.75% | 2025 | i — | i 1,001,693 | ||||||||||||||
| Fifth Amended and Restated U.S. Credit Facility (defined below): | |||||||||||||||||
Term note payable at i 1.33% | 2026 | i 506,250 | i — | ||||||||||||||
Revolving
note payable at i 3.50% | 2026 | i — | i — | ||||||||||||||
| Fourth Amended and Restated U.S. Credit Facility (defined below): | |||||||||||||||||
Term note payable at i 1.33% | 2023 | i — | i 450,000 | ||||||||||||||
Revolving
note payable at i 3.50% | 2023 | i — | 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 13 | i 38 | ||||||||||||||
| Finance lease obligations | Various | i 4,596 | i 1,664 | ||||||||||||||
| Long-term debt | i 3,246,986 | i 2,298,544 | |||||||||||||||
| Less: Current maturities of long-term debt | ( i 19,885) | ( i 25,455) | |||||||||||||||
| Long-term debt, less current maturities | i 3,227,101 | i 2,273,089 | |||||||||||||||
| Less: Capitalized financing costs | ( i 31,235) | ( i 17,543) | |||||||||||||||
| Long-term debt, less current maturities, net of capitalized financing costs | $ | i 3,195,866 | $ | i 2,255,546 | |||||||||||||
Nine Months Ended September 26, 2021(a) | |||||||||||||||||||||||||||||
| Gains Related to Foreign Currency Translation | Losses on Derivative Financial Instruments Classified as Cash Flow Hedges | Losses Related to Pension and Other Postretirement Benefits | Gains (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 13,135 | i 1,204 | i 23,524 | i — | i 37,863 | ||||||||||||||||||||||||
| Amounts reclassified from accumulated other comprehensive income to net income | i — | ( i 1,261) | i 1,200 | i — | ( i 61) | ||||||||||||||||||||||||
| Currency translation | i — | i 16 | i — | i — | i 16 | ||||||||||||||||||||||||
| Net current period other comprehensive income | i 13,135 | ( i 41) | i 24,724 | i — | i 37,818 | ||||||||||||||||||||||||
| Balance, end of period | $ | i 95,917 | $ | ( i 1,232) | $ | ( i 77,487) | $ | i — | $ | i 17,198 | |||||||||||||||||||
Nine Months Ended September 27, 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 | Losses 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 48,921) | i 3,403 | ( i 44,641) | i 2 | ( i 90,157) | ||||||||||||||||||||||||
| Amounts reclassified from accumulated other comprehensive loss to net income | i — | ( i 1,039) | i 846 | ( i 14) | ( i 207) | ||||||||||||||||||||||||
| Currency translation | i — | ( i 27) | i — | i — | ( i 27) | ||||||||||||||||||||||||
| Net current period other comprehensive income (loss) | ( i 48,921) | i 2,337 | ( i 43,795) | ( i 12) | ( i 90,391) | ||||||||||||||||||||||||
| Balance, end of period | $ | ( i 50,029) | $ | ( i 69) | $ | ( i 115,410) | $ | ( i 12) | $ | ( i 165,520) | |||||||||||||||||||
Amount
Reclassified from Accumulated Other Comprehensive Income(a) | ||||||||||||||||||||
| Details about Accumulated Other Comprehensive Income Components | Nine Months Ended September 26, 2021 | Nine Months Ended September 27, 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 746 | $ | i 1,452 | Net sales | |||||||||||||||
| Realized gain (loss) on settlement of foreign currency derivatives classified as cash flow hedges | i 860 | ( i 314) | Cost of sales | |||||||||||||||||
| Realized loss on settlement of interest rate swap derivatives classified as cash flow hedges | ( i 460) | ( i 99) | Interest expense, net of capitalized interest | |||||||||||||||||
| Realized gain on sale of securities | i — | i 18 | Interest income | |||||||||||||||||
Amortization of pension and other postretirement plan actuarial losses(b) | ( i 1,568) | ( i 1,127) | Miscellaneous, net | |||||||||||||||||
| Total before tax | ( i 422) | ( i 70) | ||||||||||||||||||
| Tax expense | i 483 | i 277 | ||||||||||||||||||
| Total reclassification for the period | $ | i 61 | $ | i 207 | ||||||||||||||||
| Nine Months Ended | |||||||||||||||||||||||
| September 26, 2021 | September 27, 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 4,119 | i 12 | i 6,047 | i 27 | |||||||||||||||||||
| Actuarial loss (gain) | ( i 9,873) | ( i 20) | i 30,650 | i 75 | |||||||||||||||||||
| Benefits paid | ( i 9,792) | ( i 113) | ( i 9,763) | ( i 120) | |||||||||||||||||||
| Curtailments and settlements | ( i 4,393) | i — | ( i 7,083) | i — | |||||||||||||||||||
| Prior service cost | i — | i — | i 22 | i — | |||||||||||||||||||
| Currency translation loss (gain) | i 2,169 | i — | ( i 4,071) | i — | |||||||||||||||||||
| Projected benefit obligation, end of period | $ | i 386,424 | $ | i 1,472 | $ | i 384,868 | $ | i 1,509 | |||||||||||||||
| Nine Months Ended | |||||||||||||||||||||||
| September 26, 2021 | September 27, 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 28,325 | i — | ( i 5,343) | i — | |||||||||||||||||||
| Contributions by employer | i 10,569 | i 113 | i 11,801 | i 120 | |||||||||||||||||||
| Benefits paid | ( i 9,792) | ( i 113) | ( i 9,763) | ( i 120) | |||||||||||||||||||
| Curtailments and settlements | ( i 4,393) | i — | ( i 7,083) | i — | |||||||||||||||||||
| Expenses paid from assets | ( i 279) | i — | ( i 603) | i — | |||||||||||||||||||
| Currency translation gain (loss) | i 1,466 | i — | ( i 4,337) | i — | |||||||||||||||||||
| Fair value of plan assets, end of period | $ | i 331,879 | $ | i — | $ | i 279,261 | $ | i — | |||||||||||||||
| September 26, 2021 | December 27, 2020 | ||||||||||||||||||||||
| Pension Benefits | Other Benefits | Pension Benefits | Other Benefits | ||||||||||||||||||||
| (In thousands) | |||||||||||||||||||||||
| Funded status | |||||||||||||||||||||||
| Unfunded benefit obligation, end of period | $ | ( i 54,545) | $ | ( i 1,472) | $ | ( i 98,211) | $ | ( i 1,593) | |||||||||||||||
| September 26, 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 6,775) | $ | ( i 164) | $ | ( i 7,510) | $ | ( i 169) | |||||||||||||||
| Long-term liability | ( i 47,770) | ( i 1,308) | ( i 90,701) | ( i 1,424) | |||||||||||||||||||
| Recognized liability | $ | ( i 54,545) | $ | ( i 1,472) | $ | ( i 98,211) | $ | ( i 1,593) | |||||||||||||||
| September 26, 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 62,515 | $ | i 153 | $ | i 95,522 | $ | i 174 | |||||||||||||||
| Three Months Ended September 26, 2021 | Three Months Ended September 27, 2020 | Nine Months Ended September 26, 2021 | Nine Months Ended September 27, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||
| Pension Benefits | Other Benefits | Pension Benefits | Other Benefits | Pension Benefits | Other Benefits | Pension Benefits | Other Benefits | |||||||||||||||||||||||||||||||||||||||||||
| (In thousands) | ||||||||||||||||||||||||||||||||||||||||||||||||||
| Interest cost | $ | i 1,682 | $ | i 4 | $ | i 1,997 | $ | i 9 | $ | i 4,119 | $ | i 12 | $ | i 6,047 | $ | i 27 | ||||||||||||||||||||||||||||||||||
| Estimated return on plan assets | ( i 3,170) | i — | ( i 3,256) | i — | ( i 7,626) | i — | ( i 9,754) | i — | ||||||||||||||||||||||||||||||||||||||||||
| Settlement loss | i 539 | i — | i 2,941 | i — | i 1,376 | i — | i 2,941 | i — | ||||||||||||||||||||||||||||||||||||||||||
| Expenses paid from assets | i 110 | i — | i 87 | i — | i 279 | i — | i 624 | i — | ||||||||||||||||||||||||||||||||||||||||||
| Amortization of net loss | i 607 | i — | i 376 | i — | i 1,553 | i 1 | i 1,127 | i — | ||||||||||||||||||||||||||||||||||||||||||
| Amortization of past service cost | i 6 | i — | i — | i — | i 14 | i — | i — | i — | ||||||||||||||||||||||||||||||||||||||||||
Net
costs(a) | $ | ( i 226) | $ | i 4 | $ | i 2,145 | $ | i 9 | $ | ( i 285) | $ | i 13 | $ | i 985 | $ | i 27 | ||||||||||||||||||||||||||||||||||
| September 26, 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 2.01 | % | i 2.08 | % | i 1.83 | % | i 1.80 | % | |||||||||||||||
| Nine Months Ended | |||||||||||||||||||||||
| September 26, 2021 | September 27, 2020 | ||||||||||||||||||||||
| Pension Benefits | Other Benefits | Pension Benefits | Other Benefits | ||||||||||||||||||||
| Assumptions used to measure net pension and other postretirement cost | |||||||||||||||||||||||
| Discount rate | i 1.87 | % | i 1.80 | % | i 2.51 | % | i 2.77 | % | |||||||||||||||
| Expected return on plan assets | i 3.53 | % | NA | i 4.67 | % | 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 10,344) | $ | i 10,890 | |||||||
| September 26, 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 1 | % | i 1 | % | |||||||
Pooled
separate accounts for the U.K. Plans(a): | |||||||||||
| Equity securities | i 36 | % | i 35 | % | |||||||
| Fixed income securities | i 19 | % | i 20 | % | |||||||
| Real estate | i 6 | % | i 6 | % | |||||||
| Total assets | i 100 | % | i 100 | % | |||||||
| September 26, 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 7,748 | $ | i — | $ | i — | $ | i 7,748 | $ | i 1,487 | $ | i — | $ | i — | $ | i 1,487 | |||||||||||||||||||||||||||||||
| PSAs for the Union Plan: | |||||||||||||||||||||||||||||||||||||||||||||||
Large U.S. equity funds(d) | i — | i 2,979 | i — | i 2,979 | i — | i 3,100 | i — | i 3,100 | |||||||||||||||||||||||||||||||||||||||
Small/Mid
U.S. equity funds(e) | i — | i 1,155 | i — | i 1,155 | i — | i 392 | i — | i 392 | |||||||||||||||||||||||||||||||||||||||
International
equity funds(f) | i — | i 2,060 | i — | i 2,060 | i — | i 1,874 | i — | i 1,874 | |||||||||||||||||||||||||||||||||||||||
Fixed
income funds(g) | i — | i 5,167 | i — | i 5,167 | i — | i 5,365 | i — | i 5,365 | |||||||||||||||||||||||||||||||||||||||
| PSAs and CCTs for the GK Pension Plan: | |||||||||||||||||||||||||||||||||||||||||||||||
Large U.S. equity funds(d) | i — | i 33,199 | i — | i 33,199 | i — | i 29,602 | i — | i 29,602 | |||||||||||||||||||||||||||||||||||||||
Small/Mid
U.S. equity funds(e) | i — | i 16,905 | i — | i 16,905 | i — | i 17,569 | i — | i 17,569 | |||||||||||||||||||||||||||||||||||||||
International
equity funds(f) | i — | i 16,823 | i — | i 16,823 | i — | i 16,320 | i — | i 16,320 | |||||||||||||||||||||||||||||||||||||||
Fixed
income funds(g) | i — | i 40,951 | i — | i 40,951 | i — | i 38,944 | i — | i 38,944 | |||||||||||||||||||||||||||||||||||||||
Real
estate(h) | i — | i 5,032 | i — | i 5,032 | i — | i 5,677 | i — | i 5,677 | |||||||||||||||||||||||||||||||||||||||
| PSAs for the U.K. Plans: | |||||||||||||||||||||||||||||||||||||||||||||||
Large U.S. equity funds(d) | i — | i 47,598 | i — | i 47,598 | i — | i 39,002 | i — | i 39,002 | |||||||||||||||||||||||||||||||||||||||
International
equity funds(f) | i — | i 71,175 | i — | i 71,175 | i — | i 69,251 | i — | i 69,251 | |||||||||||||||||||||||||||||||||||||||
Fixed
income funds(g) | i — | i 62,844 | i — | i 62,844 | i — | i 60,212 | i — | i 60,212 | |||||||||||||||||||||||||||||||||||||||
Real
estate(h) | i — | i 18,243 | i — | i 18,243 | i — | i 17,188 | i — | i 17,188 | |||||||||||||||||||||||||||||||||||||||
| Total assets | $ | i 7,748 | $ | i 324,131 | $ | i — | $ | i 331,879 | $ | i 1,487 | $ | i 304,496 | $ | i — | $ | i 305,983 | |||||||||||||||||||||||||||||||
| Pension Benefits | Other Benefits | ||||||||||
| (In thousands) | |||||||||||
| 2021 | $ | i 13,675 | $ | i 56 | |||||||
| 2022 | i 17,084 | i 163 | |||||||||
| 2023 | i 16,584 | i 156 | |||||||||
| 2024 | i 16,172 | i 149 | |||||||||
| 2025 | i 15,674 | i 140 | |||||||||
| 2026-2030 | i 72,166 | i 555 | |||||||||
| Total | $ | i 151,355 | $ | i 1,219 | |||||||
| Nine Months Ended | |||||||||||||||||||||||
| September 26, 2021 | September 27, 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 1,567) | ( i 1) | ( i 1,127) | i — | |||||||||||||||||||
| Curtailment and settlement adjustments | ( i 1,376) | i — | ( i 2,941) | i — | |||||||||||||||||||
| Actuarial loss (gain) | ( i 9,873) | ( i 20) | i 30,650 | i 75 | |||||||||||||||||||
| Asset loss (gain) | ( i 20,699) | i — | i 15,089 | i — | |||||||||||||||||||
| Currency translation loss | i 508 | i — | i 669 | i — | |||||||||||||||||||
| Net actuarial loss, end of period | $ | i 62,515 | $ | i 153 | $ | i 100,579 | $ | i 166 | |||||||||||||||
| 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. | |||||||
| September 26, 2021 | December 27, 2020 | ||||||||||||||||||||||||||||||||||
| Level 1 | Level 2 | Total | Level 1 | Level 2 | Total | ||||||||||||||||||||||||||||||
| (In thousands) | |||||||||||||||||||||||||||||||||||
| Assets: | |||||||||||||||||||||||||||||||||||
| Commodity derivative assets | $ | i 8,443 | $ | — | $ | i 8,443 | $ | i 24,059 | $ | — | $ | i 24,059 | |||||||||||||||||||||||
| Foreign currency derivative assets | i 1,814 | — | i 1,814 | i 2,204 | — | i 2,204 | |||||||||||||||||||||||||||||
| Sales contract derivative assets | — | i 2,201 | i 2,201 | — | — | — | |||||||||||||||||||||||||||||
| Liabilities: | |||||||||||||||||||||||||||||||||||
| Commodity derivative liabilities | ( i 29,744) | — | ( i 29,744) | ( i 6,531) | — | ( i 6,531) | |||||||||||||||||||||||||||||
| Foreign currency derivative liabilities | ( i 139) | — | ( i 139) | ( i 428) | — | ( i 428) | |||||||||||||||||||||||||||||
| Interest rate swap derivative liabilities | i — | ( i 345) | ( i 345) | ( i 640) | — | ( i 640) | |||||||||||||||||||||||||||||
| September 26, 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 — | $ | i — | $ | ( i 1,001,693) | $ | ( i 1,024,510) | |||||||||||||||
Fixed-rate
senior notes payable at i 5.875%, at Level 2 inputs | ( i 845,687) | ( i 906,313) | ( i 845,149) | ( i 911,957) | |||||||||||||||||||
Fixed-rate
senior notes payable at i 4.25%, at Level 2 inputs | ( i 990,440) | ( i 1,075,000) | i — | i — | |||||||||||||||||||
Fixed-rate
senior notes payable at i 3.50%, at Level 2 inputs | ( i 900,000) | ( i 924,003) | i — | i — | |||||||||||||||||||
| Secured loans, at Level 3 inputs | ( i 13) | ( i 13) | ( i 38) | ( i 38) | |||||||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| September 26, 2021 | September 27, 2020 | September 26, 2021 | September 27, 2020 | ||||||||||||||||||||
| (In thousands) | |||||||||||||||||||||||
| Sales to related parties | |||||||||||||||||||||||
JBS USA Food
Company(a) | $ | i 4,437 | $ | i 3,768 | $ | i 11,519 | $ | i 10,315 | |||||||||||||||
| JBS Chile Ltda. | i 266 | i 114 | i 353 | i 70 | |||||||||||||||||||
| Combo, Mercado de Congelados | i 201 | i 293 | i 978 | i 780 | |||||||||||||||||||
| JBS Australia Pty. Ltd. | i 172 | i 660 | i 1,994 | i 1,941 | |||||||||||||||||||
| Total sales to related parties | $ | i 5,076 | $ | i 4,835 | $ | i 14,844 | $ | i 13,106 | |||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| September 26, 2021 | September 27, 2020 | September 26, 2021 | September 27, 2020 | ||||||||||||||||||||
| (In thousands) | |||||||||||||||||||||||
| Cost of goods purchased from related parties | |||||||||||||||||||||||
JBS
USA Food Company(a) | $ | i 62,371 | $ | i 27,657 | $ | i 168,167 | $ | i 100,467 | |||||||||||||||
| Seara Meats B.V. | i 1,074 | i 2,637 | i 3,418 | i 6,360 | |||||||||||||||||||
| Penasul UK LTD | i 1,071 | i — | i 6,227 | i — | |||||||||||||||||||
| Planterra Food Company | i — | i — | i 150 | i — | |||||||||||||||||||
| JBS Global (U.K.) Ltd. | i 247 | i 224 | i 742 | i 669 | |||||||||||||||||||
| JBS Food Trading (Shanghai) Limited | i 19 | i — | i 61 | i — | |||||||||||||||||||
| JBS Toledo NV | i — | i — | i — | i 156 | |||||||||||||||||||
| JBS Asia Co Limited | i — | i — | i 5 | i — | |||||||||||||||||||
| Total cost of goods purchased from related parties | $ | i 64,782 | $ | i 30,518 | $ | i 178,770 | $ | i 107,652 | |||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| September 26, 2021 | September 27, 2020 | September 26, 2021 | September 27, 2020 | ||||||||||||||||||||
| (In thousands) | |||||||||||||||||||||||
| Expenditures paid by related parties | |||||||||||||||||||||||
JBS
USA Food Company(b) | $ | i 27,295 | $ | i 6,429 | $ | i 68,027 | $ | i 28,402 | |||||||||||||||
| Seara Food Europe Holdings | i — | i 3 | i 12 | i 5 | |||||||||||||||||||
| Total expenditures paid by related parties | $ | i 27,295 | $ | i 6,432 | $ | i 68,039 | $ | i 28,407 | |||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| September 26, 2021 | September 27, 2020 | September 26, 2021 | September 27, 2020 | ||||||||||||||||||||
| (In thousands) | |||||||||||||||||||||||
| Expenditures paid on behalf of related parties | |||||||||||||||||||||||
JBS
USA Food Company(b) | $ | i 8,011 | $ | i 6,689 | $ | i 35,457 | $ | i 13,315 | |||||||||||||||
| September 26, 2021 | December 27, 2020 | ||||||||||
| (In thousands) | |||||||||||
| Accounts receivable from related parties | |||||||||||
JBS USA Food Company(a) | $ | i 1,221 | $ | i 714 | |||||||
| Combo, Mercado de Congelados | i 79 | i — | |||||||||
| JBS Australia Pty. Ltd. | i 28 | i 370 | |||||||||
| JBS Chile Ltda. | i 2 | i — | |||||||||
| Total accounts receivable from related parties | $ | i 1,330 | $ | i 1,084 | |||||||
| September 26, 2021 | December 27, 2020 | ||||||||||
| (In thousands) | |||||||||||
| Accounts payable to related parties | |||||||||||
JBS
USA Food Company(a) | $ | i 5,439 | $ | i 8,562 | |||||||
| Penasul UK LTD | i 271 | i — | |||||||||
| Seara Meats B.V. | i 754 | i 1,075 | |||||||||
| JBS Global (U.K.) Ltd. | i 122 | i 5 | |||||||||
| JBS Chile Ltda. | i 8 | i 8 | |||||||||
| Total accounts payable to related parties | $ | i 6,594 | $ | i 9,650 | |||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| (In thousands) | |||||||||||||||||||||||
| Net sales | |||||||||||||||||||||||
| U.S. | $ | i 2,466,850 | $ | i 1,894,222 | $ | i 6,714,879 | $ | i 5,619,791 | |||||||||||||||
| U.K. and Europe | i 930,440 | i 845,677 | i 2,721,019 | i 2,425,140 | |||||||||||||||||||
| Mexico | i 430,276 | i 335,222 | i 1,302,791 | i 929,141 | |||||||||||||||||||
| Total | $ | i 3,827,566 | $ | i 3,075,121 | $ | i 10,738,689 | $ | i 8,974,072 | |||||||||||||||
| Three Months Ended | Nine Months Ended | ||||||||||||||||||||||
| September 26, 2021 | September 27, 2020 | September 26, 2021 | September 27, 2020 | ||||||||||||||||||||
| (In thousands) | |||||||||||||||||||||||
| Reportable segment profit (loss) | |||||||||||||||||||||||
| U.S. | $ | i 70,666 | $ | i 2,451 | $ | ( i 85,380) | $ | i 126,951 | |||||||||||||||
| U.K. and Europe | i 445 | i 29,949 | i 32,771 | i 76,324 | |||||||||||||||||||
| Mexico | i 49,652 | i 61,653 | i 208,677 | i 2,229 | |||||||||||||||||||
| Eliminations | i 14 | i 235 | i 42 | i 459 | |||||||||||||||||||
| Total operating income | i 120,777 | i 94,288 | i 156,110 | i 205,963 | |||||||||||||||||||
| Interest expense, net of capitalized interest | i 29,833 | i 30,564 | i 110,818 | i 95,575 | |||||||||||||||||||
| Interest income | ( i 1,244) | ( i 1,763) | ( i 4,452) | ( i 4,611) | |||||||||||||||||||
| Foreign currency transaction loss (gain) | i 2,359 | i 9,092 | i 9,018 | ( i 3,768) | |||||||||||||||||||
| Miscellaneous, net | ( i 1,391) | i 360 | ( i 10,005) | ( i 33,873) | |||||||||||||||||||
| Income before income taxes | i 91,220 | i 56,035 | i 50,731 | i 152,640 | |||||||||||||||||||
| Income tax expense | i 30,385 | i 22,344 | i 55,931 | i 57,900 | |||||||||||||||||||
| Net income (loss) | $ | i 60,835 | $ | i 33,691 | $ | ( i 5,200) | $ | i 94,740 | |||||||||||||||
| September 26, 2021 | December 27, 2020 | ||||||||||
| (In thousands) | |||||||||||
| Total assets by reportable segment | |||||||||||
| U.S. | $ | i 6,472,756 | $ | i 5,189,021 | |||||||
| U.K. and Europe | i 4,146,047 | i 3,034,219 | |||||||||
| Mexico | i 1,132,193 | i 1,212,428 | |||||||||
| Eliminations | ( i 2,918,153) | ( i 1,961,171) | |||||||||
| Total assets | $ | i 8,832,843 | $ | i 7,474,497 | |||||||
| September 26, 2021 | December 27, 2020 | ||||||||||
| (In thousands) | |||||||||||
Long-lived assets by reportable segment(a) | |||||||||||
| U.S. | $ | i i 1,850,525 / | $ | i 1,815,460 | |||||||
| U.K. and Europe | i i 1,022,966 / | i 842,049 | |||||||||
| Mexico | i 279,197 | i 292,651 | |||||||||
| Eliminations | ( i 3,743) | ( i 3,783) | |||||||||
| Total long-lived assets | $ | i 3,148,945 | $ | i 2,946,377 | |||||||
| Preliminary | |||||
| Cash and cash equivalents | $ | i 113 | |||
| Trade accounts and other receivables | i 7,386 | ||||
| Inventories | i 60,339 | ||||
| Prepaid expenses and other current assets | i 7,953 | ||||
| Operating lease assets | i 14,967 | ||||
| Property, plant and equipment | i 170,617 | ||||
| Identified intangible assets | i 453,068 | ||||
| Total assets acquired | i 714,443 | ||||
| Accounts payable | i 8,016 | ||||
| Other current liabilities | i 9,568 | ||||
| Operating lease liabilities | i 13,405 | ||||
| Deferred tax liabilities | i 97,040 | ||||
| Other long-term liabilities | i 2,591 | ||||
| Total liabilities assumed | i 130,620 | ||||
| Total identifiable net assets | i 583,823 | ||||
| Goodwill | i 370,237 | ||||
| Total consideration transferred | $ | i 954,060 | |||
| Sources of net sales | Three Months Ended September 26, 2021 | Change from Three Months Ended September 27, 2020 | |||||||||||||||||||||
| Amount | Percent | ||||||||||||||||||||||
| (In thousands, except percent data) | |||||||||||||||||||||||
| U.S. | $ | 2,466,850 | $ | 572,628 | 30.2 | % | |||||||||||||||||
| U.K. and Europe | 930,440 | 84,763 | 10.0 | % | |||||||||||||||||||
| Mexico | 430,276 | 95,054 | 28.4 | % | |||||||||||||||||||
| Total net sales | $ | 3,827,566 | $ | 752,445 | 24.5 | % | |||||||||||||||||
| Components of gross profit | Three Months Ended September 26, 2021 | Change from Three Months Ended September 27, 2020 | Percent of Net Sales | ||||||||||||||||||||||||||||||||
| Three Months Ended | |||||||||||||||||||||||||||||||||||
| Amount | Percent | September 26, 2021 | September 27, 2020 | ||||||||||||||||||||||||||||||||
| (In thousands, except percent data) | |||||||||||||||||||||||||||||||||||
| Net sales | $ | 3,827,566 | $ | 752,445 | 24.5 | % | 100.0 | % | 100.0 | % | |||||||||||||||||||||||||
| Cost of sales | 3,455,723 | 694,444 | 25.1 | % | 90.3 | % | 89.8 | % | |||||||||||||||||||||||||||
| Gross profit | $ | 371,843 | $ | 58,001 | 18.5 | % | 9.7 | % | 10.2 | % | |||||||||||||||||||||||||
| Sources of gross profit | Three Months Ended September 26, 2021 | Change from Three Months Ended September 27, 2020 | |||||||||||||||||||||
| Amount | Percent | ||||||||||||||||||||||
| (In thousands, except percent data) | |||||||||||||||||||||||
| U.S. | $ | 278,028 | $ | 94,895 | 51.8 | % | |||||||||||||||||
| U.K. and Europe | 32,324 | (28,006) | (46.4) | % | |||||||||||||||||||
| Mexico | 61,477 | (8,667) | 12.4 | % | |||||||||||||||||||
| Elimination | 14 | (221) | (94.0) | % | |||||||||||||||||||
| Total gross profit | $ | 371,843 | $ | 58,001 | 18.5 | % | |||||||||||||||||
| Sources of cost of sales | Three Months Ended September 26, 2021 | Change from Three Months Ended September 27, 2020 | |||||||||||||||||||||
| Amount | Percent | ||||||||||||||||||||||
| (In thousands, except percent data) | |||||||||||||||||||||||
| U.S. | $ | 2,188,822 | $ | 477,733 | 27.9 | % | |||||||||||||||||
| U.K. and Europe | 898,116 | 112,769 | 14.4 | % | |||||||||||||||||||
| Mexico | 368,799 | 103,721 | 39.1 | % | |||||||||||||||||||
| Elimination | (14) | 221 | 94.0 | % | |||||||||||||||||||
| Total cost of sales | $ | 3,455,723 | $ | 694,444 | 25.1 | % | |||||||||||||||||
| Components of operating income | Three Months Ended September 26, 2021 | Change from Three Months Ended September 27, 2020 | Percent of Net Sales | ||||||||||||||||||||||||||||||||
| Three Months Ended | |||||||||||||||||||||||||||||||||||
| Amount | Percent | September 26, 2021 | September 27, 2020 | ||||||||||||||||||||||||||||||||
| (In thousands, except percent data) | |||||||||||||||||||||||||||||||||||
| Gross profit | $ | 371,843 | $ | 58,001 | 18.5 | % | 9.7 | % | 10.2 | % | |||||||||||||||||||||||||
| SG&A expense | 251,066 | 31,512 | 14.4 | % | 6.6 | % | 7.1 | % | |||||||||||||||||||||||||||
| Operating income | $ | 120,777 | $ | 26,489 | 28.1 | % | 3.2 | % | 3.1 | % | |||||||||||||||||||||||||
| Sources of operating income | Three Months Ended September 26, 2021 | Change from Three Months Ended September 27, 2020 | |||||||||||||||||||||
| Amount | Percent | ||||||||||||||||||||||
| (In thousands, except percent data) | |||||||||||||||||||||||
| U.S. | $ | 70,666 | $ | 68,215 | 2,783.1 | % | |||||||||||||||||
| U.K. and Europe | 445 | (29,504) | (98.5) | % | |||||||||||||||||||
| Mexico | 49,652 | (12,001) | 19.5 | % | |||||||||||||||||||
| Eliminations | 14 | (221) | (94.0) | % | |||||||||||||||||||
| Total operating income | $ | 120,777 | $ | 26,489 | 28.1 | % | |||||||||||||||||
| Sources of SG&A expense | Three Months Ended September 26, 2021 | Change from Three Months Ended September 27, 2020 | |||||||||||||||||||||
| Amount | Percent | ||||||||||||||||||||||
| (In thousands, except percent data) | |||||||||||||||||||||||
| U.S. | $ | 207,362 | $ | 26,680 | 14.8 | % | |||||||||||||||||
| U.K. and Europe | 31,879 | 1,498 | 4.9 | % | |||||||||||||||||||
| Mexico | 11,825 | 3,334 | 39.3 | % | |||||||||||||||||||
| Total SG&A expense | $ | 251,066 | $ | 31,512 | 14.4 | % | |||||||||||||||||
| Sources of net sales | Nine Months Ended September 26, 2021 | Change from Nine Months Ended September 27, 2020 | |||||||||||||||||||||
| Amount | Percent | ||||||||||||||||||||||
| (In thousands, except percent data) | |||||||||||||||||||||||
| U.S. | $ | 6,714,879 | $ | 1,095,088 | 19.5 | % | |||||||||||||||||
| U.K. and Europe | 2,721,019 | 295,879 | 12.2 | % | |||||||||||||||||||
| Mexico | 1,302,791 | 373,650 | 40.2 | % | |||||||||||||||||||
| Total net sales | $ | 10,738,689 | $ | 1,764,617 | 19.7 | % | |||||||||||||||||
| Components of gross profit | Nine Months Ended September 26, 2021 | Change from Nine Months Ended September 27, 2020 | Percent of Net Sales | ||||||||||||||||||||||||||||||||
| Nine Months Ended | |||||||||||||||||||||||||||||||||||
| Amount | Percent | September 26, 2021 | September 27, 2020 | ||||||||||||||||||||||||||||||||
| (In thousands, except percent data) | |||||||||||||||||||||||||||||||||||
| Net sales | $ | 10,738,689 | $ | 1,764,617 | 19.7 | % | 100.0 | % | 100.0 | % | |||||||||||||||||||||||||
| Cost of sales | 9,725,362 | 1,362,090 | 16.3 | % | 90.6 | % | 93.2 | % | |||||||||||||||||||||||||||
| Gross profit | $ | 1,013,327 | $ | 402,527 | 65.9 | % | 9.4 | % | 6.8 | % | |||||||||||||||||||||||||
| Sources of gross profit | Nine Months Ended September 26, 2021 | Change from Nine Months Ended September 27, 2020 | |||||||||||||||||||||
| Amount | Percent | ||||||||||||||||||||||
| (In thousands, except percent data) | |||||||||||||||||||||||
| U.S. | $ | 651,235 | $ | 241,978 | 59.1 | % | |||||||||||||||||
| U.K. and Europe | 120,177 | (48,929) | (28.9) | % | |||||||||||||||||||
| Mexico | 241,873 | 209,895 | 656.4 | % | |||||||||||||||||||
| Elimination | 42 | (417) | (90.8) | % | |||||||||||||||||||
| Total gross profit | $ | 1,013,327 | $ | 402,527 | 65.9 | % | |||||||||||||||||
| Sources of cost of sales | Nine Months Ended September 26, 2021 | Change from Nine Months Ended September 27, 2020 | |||||||||||||||||||||
| Amount | Percent | ||||||||||||||||||||||
| (In thousands, except percent data) | |||||||||||||||||||||||
| U.S. | $ | 6,063,644 | $ | 853,110 | 16.4 | % | |||||||||||||||||
| U.K. and Europe | 2,600,842 | 344,808 | 15.3 | % | |||||||||||||||||||
| Mexico | 1,060,918 | 163,755 | 18.3 | % | |||||||||||||||||||
| Elimination | (42) | 417 | 90.8 | % | |||||||||||||||||||
| Total cost of sales | $ | 9,725,362 | $ | 1,362,090 | 16.3 | % | |||||||||||||||||
| Components of operating income | Nine Months Ended September 26, 2021 | Change from Nine Months Ended September 27, 2020 | Percent of Net Sales | ||||||||||||||||||||||||||||||||
| Six Months Ended | |||||||||||||||||||||||||||||||||||
| Amount | Percent | September 26, 2021 | September 27, 2020 | ||||||||||||||||||||||||||||||||
| (In thousands, except percent data) | |||||||||||||||||||||||||||||||||||
| Gross profit | $ | 1,013,327 | $ | 402,527 | 65.9 | % | 9.4 | % | 6.8 | % | |||||||||||||||||||||||||
| SG&A expense | 857,217 | 452,380 | 111.7 | % | 8.0 | % | 4.5 | % | |||||||||||||||||||||||||||
| Operating income | $ | 156,110 | $ | (49,853) | (24.2) | % | 1.5 | % | 2.3 | % | |||||||||||||||||||||||||
| Sources of operating income | Nine Months Ended September 26, 2021 | Change from Nine Months Ended September 27, 2020 | |||||||||||||||||||||
| Amount | Percent | ||||||||||||||||||||||
| (In thousands, except percent data) | |||||||||||||||||||||||
| U.S. | $ | (85,380) | $ | (212,331) | (167.3) | % | |||||||||||||||||
| U.K. and Europe | 32,771 | (43,553) | (57.1) | % | |||||||||||||||||||
| Mexico | 208,677 | 206,448 | (9,261.9) | % | |||||||||||||||||||
| Eliminations | 42 | (417) | (90.8) | % | |||||||||||||||||||
| Total operating income | $ | 156,110 | $ | (49,853) | (24.2) | % | |||||||||||||||||
| Sources of SG&A expense | Nine Months Ended September 26, 2021 | Change from Nine Months Ended September 27, 2020 | |||||||||||||||||||||
| Amount | Percent | ||||||||||||||||||||||
| (In thousands, except percent data) | |||||||||||||||||||||||
| U.S. | $ | 736,615 | $ | 454,309 | 160.9 | % | |||||||||||||||||
| U.K. and Europe | 87,406 | (5,376) | (5.8) | % | |||||||||||||||||||
| Mexico | 33,196 | 3,447 | 11.6 | % | |||||||||||||||||||
| Total SG&A expense | $ | 857,217 | $ | 452,380 | 111.7 | % | |||||||||||||||||
| Sources of Liquidity | Facility Amount | Amount Outstanding | Amount Available | |||||||||||||||||
| (In millions) | ||||||||||||||||||||
| Cash and cash equivalents | $ | — | $ | — | $ | 511.1 | ||||||||||||||
| Borrowing arrangements: | ||||||||||||||||||||
U.S. Credit Facility Revolving Note Payable(a) | 800.0 | — | 761.5 | |||||||||||||||||
U.S. Credit Facility Term Loans(b) | 700.0 | 506.3 | 193.7 | |||||||||||||||||
Mexico
Credit Facility(c) | 74.8 | — | 74.8 | |||||||||||||||||
U.K. and Europe Credit Facilities(d) | 136.8 | — | 136.8 | |||||||||||||||||
| Cash Flows from Operating Activities | Nine Months Ended | |||||||||||||
| September 26, 2021 | September 27, 2020 | |||||||||||||
| (In millions) | ||||||||||||||
| Net income (loss) | $ | (5.2) | $ | 94.7 | ||||||||||
| Net noncash expenses | 282.1 | 285.0 | ||||||||||||
| Changes in operating assets and liabilities: | ||||||||||||||
| Trade accounts and other receivables | (138.9) | 44.6 | ||||||||||||
| Inventories | (149.7) | 41.3 | ||||||||||||
| Prepaid expenses and other current assets | 13.7 | (29.3) | ||||||||||||
| Accounts payable, accrued expenses and other current liabilities | 274.9 | 93.1 | ||||||||||||
| Income taxes | 66.4 | (30.9) | ||||||||||||
| Long-term pension and other postretirement obligations | (13.5) | (0.8) | ||||||||||||
| Other operating assets and liabilities | (2.4) | 10.6 | ||||||||||||
| Cash provided by operating activities | $ | 327.4 | $ | 508.3 | ||||||||||
| Cash Flows from Investing Activities | Nine Months Ended | |||||||||||||
| September 26, 2021 | September 27, 2020 | |||||||||||||
| (In millions) | ||||||||||||||
| Acquisitions of property, plant and equipment | $ | (280.9) | $ | (242.6) | ||||||||||
| Proceeds from property disposals | 22.9 | 21.7 | ||||||||||||
| Business acquisition | (953.9) | (4.2) | ||||||||||||
| Cash used in investing activities | $ | (1,211.9) | $ | (225.1) | ||||||||||
| Cash Flows from Financing Activities | Nine Months Ended | |||||||||||||
| September 26, 2021 | September 27, 2020 | |||||||||||||
| (In millions) | ||||||||||||||
| Proceeds from revolving line of credit and long-term borrowings | $ | 2,951.9 | $ | 386.7 | ||||||||||
| Payments on revolving line of credit, long-term borrowings and finance lease obligations | (2,006.0) | (56.8) | ||||||||||||
| Payments on early extinguishment of debt | (21.3) | — | ||||||||||||
| Payments of capitalized loan costs | (22.3) | — | ||||||||||||
| Distribution from Tax Sharing Agreement with JBS USA Food Company Holdings | (0.7) | — | ||||||||||||
| Purchase of common stock under share repurchase program | — | (107.8) | ||||||||||||
| Cash provided by financing activities | $ | 901.6 | $ | 222.1 | ||||||||||
| Nine Months Ended | |||||
| September 26, 2021 | |||||
| (In thousands) | |||||
| Net loss | $ | (5,200) | |||
| Add: | |||||
| Interest expense, net | 106,366 | ||||
| Income tax expense | 55,931 | ||||
| Depreciation and amortization | 274,336 | ||||
| EBITDA | 431,433 | ||||
| Add: | |||||
| Foreign currency transaction losses | 9,018 | ||||
| Transaction costs related to business acquisitions | 9,318 | ||||
| DOJ agreement and litigation settlements | 524,285 | ||||
| Minus: | |||||
| Deconsolidation of a subsidiary | 1,131 | ||||
| Net income attributable to noncontrolling interest | 554 | ||||
| Adjusted EBITDA | $ | 972,369 | |||
| Three Months Ended September 26, 2021 | |||||||||||
| Amount | Impact of 10% Increase in Feed Ingredient Prices | ||||||||||
| (In thousands) | |||||||||||
Feed purchases(a) | $ | 1,071,132 | $ | 107,113 | |||||||
Feed inventory(b) | 167,943 | 16,794 | |||||||||
| September 26, 2021 | |||||||||||
| Amount | Impact of 10% Increase in Commodity Prices | ||||||||||
| (In thousands) | |||||||||||
Net commodity derivative assets(a) | $ | 32,810 | $ | 3,281 | |||||||
| Three Months Ended September 26, 2021 | |||||||||||
| Impact of 10% Deterioration in Exchange Rate | Impact of 10% Appreciation in Exchange Rate | ||||||||||
| (In thousands, except for exchange rate data) | |||||||||||
| Foreign currency remeasurement gain (loss) | $ | (4,723) | $ | 5,772 | |||||||
| Exchange rate of Mexican peso to the U.S. dollar: | |||||||||||
| As reported | 20.05 | 20.05 | |||||||||
| Hypothetical 10% change | 22.06 | 18.05 | |||||||||
| 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) | ||||||||||||||||||||||
| June 28, 2021 through July 25, 2021 | — | $ | — | 6,105,444 | $ | 89,060,082 | ||||||||||||||||||||
| July 26, 2021 through August 29, 2021 | — | — | 6,105,444 | 89,060,082 | ||||||||||||||||||||||
| August 30, 2021 through September 26, 2021 | — | — | 6,105,444 | 89,060,082 | ||||||||||||||||||||||
| Total | — | $ | — | 6,105,444 | $ | 89,060,082 | ||||||||||||||||||||
| 3.1 | ||||||||
| 3.2 | ||||||||
| 4.1 | ||||||||
| 4.2 | ||||||||
| 4.3 | ||||||||
| 10.1 | ||||||||
| 10.2 | ||||||||
| 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: October 27, 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 | ||
|---|---|---|---|---|
 | ||||
| 10/15/26 | ||||
| 8/9/26 | ||||
| 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 | ||||
| 4/1/23 | ||||
| 3/22/23 | ||||
| 2/1/23 | ||||
| 12/31/22 | ||||
| 12/1/22 | ||||
| 11/21/22 | ||||
| 10/27/22 | ||||
| 9/15/22 | ||||
| 7/1/22 | ||||
| 6/10/22 | ||||
| 5/13/22 | ||||
| 3/1/22 | ||||
| 2/1/22 | ||||
| 12/31/21 | ||||
| 12/26/21 | 10-K, 10-K/A | |||
| 12/20/21 | ||||
| Filed as of: | 10/28/21 | 8-K | ||
| Filed on: | 10/27/21 | 8-K | ||
| 10/15/21 | ||||
| 9/30/21 | ||||
| For Period end: | 9/26/21 | |||
| 9/24/21 | ||||
| 9/20/21 | 8-K | |||
| 9/2/21 | 8-K | |||
| 9/1/21 | ||||
| 8/31/21 | ||||
| 8/30/21 | ||||
| 8/29/21 | ||||
| 8/12/21 | 8-K | |||
| 8/9/21 | ||||
| 8/3/21 | ||||
| 7/31/21 | ||||
| 7/29/21 | 10-Q, 8-K | |||
| 7/28/21 | 10-Q, 8-K | |||
| 7/26/21 | ||||
| 7/25/21 | ||||
| 7/19/21 | ||||
| 6/29/21 | ||||
| 6/28/21 | ||||
| 6/27/21 | 10-Q | |||
| 6/22/21 | ||||
| 6/17/21 | 8-K | |||
| 6/14/21 | ||||
| 6/7/21 | ||||
| 5/30/21 | ||||
| 5/26/21 | ||||
| 5/17/21 | ||||
| 5/4/21 | ||||
| 4/28/21 | 10-Q, 3, 4, 8-K, DEF 14A, PRE 14A | |||
| 4/19/21 | ||||
| 4/14/21 | ||||
| 4/8/21 | 8-K | |||
| 4/6/21 | 4 | |||
| 3/28/21 | 10-Q | |||
| 3/17/21 | ||||
| 3/15/21 | 3 | |||
| 2/24/21 | ||||
| 2/23/21 | ||||
| 2/22/21 | ||||
| 2/16/21 | 10-K/A | |||
| 2/11/21 | 10-K, 8-K | |||
| 2/10/21 | 4, 8-K | |||
| 2/1/21 | ||||
| 1/11/21 | 8-K | |||
| 1/1/21 | ||||
| 12/31/20 | ||||
| 12/28/20 | ||||
| 12/27/20 | 10-K, 10-K/A | |||
| 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 | ||||
| 8/6/20 | ||||
| 7/31/20 | ||||
| 7/27/20 | ||||
| 7/6/20 | ||||
| 6/29/20 | ||||
| 6/28/20 | 10-Q | |||
| 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 | |||
| 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 3/22/23 Pilgrim’s Pride Corp. S-3ASR 3/22/23 8:1.2M Donnelley … Solutions/FA 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 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 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 |