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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 25, 2016
Sep. 27, 2015
Cash flows from operating activities:    
Net income $ 369,580 $ 582,912
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 134,455 116,485
Asset impairment 0 4,813
Gain on property disposals (7,315) (9,817)
Loss on equity method investments 194 0
Share-based compensation 5,404 2,132
Deferred income tax benefit (1,285) (7,214)
Changes in operating assets and liabilities:    
Trade accounts and other receivables (2,639) 40,694
Inventories 4,548 17,162
Prepaid expenses and other current assets (83) (1,415)
Accounts payable, accrued expenses and other current liabilities (7,812) 92,159
Income taxes 45,220 17,836
Long-term pension and other postretirement obligations (8,294) (2,668)
Other operating assets and liabilities (864) 3,235
Cash provided by operating activities 531,109 856,314
Cash flows from investing activities:    
Acquisitions of property, plant and equipment (173,440) (129,848)
Purchase of acquired business, net of cash acquired 0 (373,532)
Proceeds from property disposals 10,316 13,553
Cash used in investing activities (163,124) (489,827)
Cash flows from financing activities:    
Proceeds from note payable to bank 36,838 5,869
Payments on note payable to bank (65,564) 0
Proceeds from revolving line of credit and long-term borrowings 515,292 1,680,000
Payments on revolving line of credit, long-term borrowings and capital lease obligations (498,124) (683,742)
Proceeds from equity contribution under Tax Sharing Agreement between JBS USA Food Company Holdings and Pilgrim’s Pride Corporation 3,691 0
Tax benefit related to share-based compensation 0 7,834
Capital contributions to subsidiary by noncontrolling stockholders 7,252 0
Payment of capitalized loan costs (693) (12,322)
Purchase of common stock under share repurchase program (20,333) (45,080)
Purchase of common stock from retirement plan participants (73) 0
Payment of special cash dividends (699,915) (1,498,470)
Cash used in financing activities (721,629) (545,911)
Decrease in cash and cash equivalents (353,644) (179,424)
Cash and cash equivalents, beginning of period 439,638 576,143
Cash and cash equivalents, end of period $ 85,994 $ 396,719