XML 18 R3.htm IDEA: XBRL DOCUMENT v3.5.0.2
CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 25, 2016
Sep. 27, 2015
Sep. 25, 2016
Sep. 27, 2015
Income Statement [Abstract]        
Net sales $ 2,031,721 $ 2,112,529 $ 6,022,973 $ 6,219,324
Cost of sales 1,821,504 1,827,985 5,289,063 5,125,640
Gross profit 210,217 284,544 733,910 1,093,684
Selling, general and administrative expense 46,116 52,620 144,424 150,961
Administrative restructuring charges 279 792 279 5,605
Operating income 163,822 231,132 589,207 937,118
Interest expense, net of capitalized interest 11,959 10,501 35,540 26,870
Interest income (125) (319) (1,501) (3,086)
Foreign currency transaction loss (gain) 4,142 12,773 (837) 23,806
Miscellaneous, net (1,741) (2,071) (5,637) (7,135)
Income before income taxes 149,587 210,248 561,642 896,663
Income tax expense 51,060 73,153 192,062 313,751
Net income 98,527 137,095 369,580 582,912
Less: Net income (loss) attributable to noncontrolling interests (130) 33 (334) 146
Net income attributable to Pilgrim’s Pride Corporation $ 98,657 $ 137,062 $ 369,914 $ 582,766
Weighted average shares of common stock outstanding:        
Basic (in shares) 254,460 259,280 254,607 259,540
Effect of dilutive common stock equivalents (in shares) 460 223 430 225
Diluted (in shares) 254,920 259,503 255,037 259,765
Net income attributable to Pilgrim’s Pride Corporation per share of common stock outstanding:        
Basic (usd per share) $ 0.39 $ 0.53 $ 1.45 $ 2.25
Diluted (usd per share) $ 0.39 $ 0.53 $ 1.45 $ 2.24