XML 16 R3.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 25, 2017
Jun. 26, 2016
Jun. 25, 2017
Jun. 26, 2016
Income Statement [Abstract]        
Net sales $ 2,251,604 $ 2,028,315 $ 4,272,096 $ 3,991,252
Cost of sales 1,826,217 1,742,184 3,631,504 3,467,559
Gross profit 425,387 286,131 640,592 523,693
Selling, general and administrative expense 61,636 49,520 124,489 98,308
Administrative restructuring charges 4,349 0 4,349 0
Operating income 359,402 236,611 511,754 425,385
Interest expense, net of capitalized interest 15,935 11,548 28,321 23,581
Interest income (1,044) (683) (1,346) (1,376)
Foreign currency transaction gain (1,810) (4,744) (1,191) (4,979)
Miscellaneous, net (970) (950) (3,685) (3,896)
Income before income taxes 347,291 231,440 489,655 412,055
Income tax expense 113,218 78,398 161,119 141,002
Net income 234,073 153,042 328,536 271,053
Less: Net income (loss) attributable to noncontrolling interests 432 156 974 (204)
Net income attributable to Pilgrim’s Pride Corporation $ 233,641 $ 152,886 $ 327,562 $ 271,257
Weighted average shares of common stock outstanding:        
Basic (in shares) 248,753 254,554 248,722 254,681
Effect of dilutive common stock equivalents (in shares) 220 390 228 364
Diluted (in shares) 248,973 254,944 248,950 255,045
Net income attributable to Pilgrim’s Pride Corporation per share of common stock outstanding:        
Basic (usd per share) $ 0.94 $ 0.60 $ 1.32 $ 1.07
Diluted (usd per share) $ 0.94 $ 0.60 $ 1.32 $ 1.06