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CONDENSED CONSOLIDATED AND COMBINED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
9 Months Ended
Sep. 24, 2017
Sep. 25, 2016
Cash flows from operating activities:    
Net income $ 584,242 $ 394,685
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 204,625 174,128
Foreign currency transaction loss related to borrowing arrangements 6,830 0
Asset impairment 4,947 0
Gain on property disposals (540) (7,315)
Loss (gain) on equity method investments (44) 194
Share-based compensation 2,454 5,404
Deferred income tax expense (benefit) 25,768 (6)
Changes in operating assets and liabilities:    
Trade accounts and other receivables (146,477) (65,649)
Inventories (149,806) (18,099)
Prepaid expenses and other current assets (15,377) 1,990
Accounts payable, accrued expenses and other current liabilities (36,105) 35,346
Income taxes 149,063 45,789
Long-term pension and other postretirement obligations (9,660) (8,294)
Other operating assets and liabilities (1,429) (6,190)
Cash provided by operating activities 618,491 551,983
Cash flows from investing activities:    
Acquisitions of property, plant and equipment (258,364) (221,035)
Purchase of acquired businesses, net of cash acquired (658,520) 0
Proceeds from property disposals 2,585 12,977
Cash used in investing activities (914,299) (208,058)
Cash flows from financing activities:    
Proceeds from note payable to bank 0 36,838
Payments on note payable to bank 0 (65,564)
Proceeds from revolving line of credit and long-term borrowings 1,013,662 515,292
Payments on revolving line of credit, long-term borrowings and capital lease obligations (609,678) (504,078)
Proceeds from equity contribution under Tax Sharing Agreement between JBS USA Food Company Holdings and Pilgrim’s Pride Corporation 5,038 3,691
Capital contributions to subsidiary by noncontrolling stockholders 0 7,252
Payment of capitalized loan costs (4,550) (693)
Purchase of common stock under share repurchase program (14,641) (20,333)
Purchase of common stock from retirement plan participants 0 73
Payment of special cash dividends 0 (715,711)
Cash provided by (used in) financing activities 389,831 (743,379)
Effect of exchange rate changes on cash and cash equivalents 15,084 (28,937)
Increase (decrease) in cash, cash equivalents and restricted cash 109,107 (428,391)
Cash, cash equivalents and restricted cash, beginning of period 297,523 696,553
Cash, cash equivalents and restricted cash, end of period $ 406,630 $ 268,162