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STOCKHOLDERS' EQUITY (Tables)
 3 Months Ended
Mar. 27, 2016
Equity [Abstract]  
Schedule of Changes in Unrealized Actuarial Losses
The following tables provide information regarding the changes in accumulated other comprehensive loss:
 
Thirteen Weeks Ended
March 27, 2016(a)
 
Thirteen Weeks Ended
March 29, 2015(a)
 
Losses Related to Pension and Other Postretirement Benefits
 
Unrealized Holding Gains on Available-for-Sale Securities
 
Total
 
Losses Related to Pension and Other Postretirement Benefits
 
Unrealized Holding Gains on Available-for-Sale Securities
 
Total
 
(In thousands)
Balance, beginning of period
$
(58,997
)
 
$
67

 
$
(58,930
)
 
$
(62,572
)
 
$
31

 
$
(62,541
)
Other comprehensive income (loss)
     before reclassifications
(6,988
)
 
171

 
(6,817
)
 
(2,180
)
 
32

 
(2,148
)
Amounts reclassified from accumulated
     other comprehensive loss to net
     income
103

 
(141
)
 
(38
)
 
111

 
(51
)
 
60

Net current period other comprehensive
     income (loss)
(6,885
)
 
30

 
(6,855
)
 
(2,069
)
 
(19
)
 
(2,088
)
Balance, end of period
$
(65,882
)
 
$
97

 
$
(65,785
)
 
$
(64,641
)
 
$
12

 
$
(64,629
)
(a)
All amounts are net of tax. Amounts in parentheses indicate debits to accumulated other comprehensive loss.
Schedule of Reclassification from Accumulated Other Comprehensive Loss
 
 
Amount Reclassified from Accumulated Other Comprehensive Loss(a)
 
 
Details about Accumulated Other Comprehensive Loss Components
 
Thirteen Weeks Ended
March 27, 2016
 
Thirteen Weeks Ended
March 29, 2015
 
Affected Line Item in the Condensed Consolidated Statements of Operations
 
 
(In thousands)
 
 
Realized gain on sale of securities
 
$
226

 
$
82

 
Interest income
Amortization of defined benefit pension
     and other postretirement plan actuarial
     losses:
 
 
 
 
 
 
Union employees pension plan(b)(d)
 
(5
)
 
(6
)
 
Cost of sales
Legacy Gold Kist plans(c)(d)
 
(50
)
 
—

 
Cost of sales
Legacy Gold Kist plans(c)(d)
 
(110
)
 
(173
)
 
Selling, general and administrative expense
Total before tax
 
61

 
(97
)
 
 
Tax benefit (expense)
 
(23
)
 
37

 
 
Total reclassification for the period
 
$
38

 
$
(60
)
 
 
(a)
Amounts in parentheses represent debits to results of operations.
(b)
The Company sponsors the Pilgrim’s Pride Retirement Plan for Union Employees, a qualified defined benefit pension plan covering certain locations or work groups with collective bargaining agreements.
(c)
The Company sponsors the Pilgrim’s Pride Plan for Legacy Gold Kist Employees, a qualified defined benefit pension plan covering certain eligible U.S. employees who were employed at locations that the Company purchased through its acquisition of Gold Kist in 2007, the Former Gold Kist Inc. Supplemental Executive Retirement Plan, a nonqualified defined benefit retirement plan covering certain former Gold Kist executives, the Former Gold Kist Inc. Directors’ Emeriti Plan, a nonqualified defined benefit retirement plan covering certain former Gold Kist directors, and the Gold Kist Inc. Retiree Life Insurance Plan, a defined benefit postretirement life insurance plan covering certain retired Gold Kist employees.
(d)
These accumulated other comprehensive income components are included in the computation of net periodic pension cost. See “Note 12. Pension and Other Postretirement Benefits” to the Condensed Consolidated Financial Statements.
Pro Forma Information, Special Cash Dividend
The following unaudited pro forma information presents the Company’s financial position giving effect to the special cash dividend and the borrowing necessary to fund the special cash dividend as if they occurred on March 27, 2016.
 
 
March 27, 2016
 
Special Cash Dividend
 
March 27, 2016
 
 
 
 
(In thousands)
 
 
Cash and cash equivalents
 
$
574,888

 
$
145,112

(a)
$
20,000

 
 
 
 
(700,000
)
(b)
 
Other current assets
 
1,238,954

 
—

 
1,238,954

Total current assets
 
1,813,842

 
(554,888
)
 
1,258,954

Other assets
 
1,572,908

 
—

 
1,572,908

Total assets
 
$
3,386,750

 
$
(554,888
)
 
$
2,831,862

 
 
 
 
 
 
 
Long-term debt, less current maturities
 
$
986,400

 
$
145,112

 
$
1,131,512

Other liabilities
 
1,029,161

 
—

 
1,029,161

Total stockholders' equity
 
1,371,189

 
(700,000
)
 
671,189

Total liabilities and stockholders' equity
 
$
3,386,750

 
$
(554,888
)
 
$
2,831,862

(a)    To reflect cash from borrowing of long-term debt used to pay the special cash dividend to stockholders.
(b)    To reflect the payment of the special cash divided to stockholders.