BUSINESS ACQUISITIONS (Tables)

12 Months Ended

Dec. 31, 2017

Business Combinations [Abstract]

Pro Forma Information

The following table summarizes the results of operations of Moy Park since the September 30, 2015 common-control date:

	Net Sales		Net Income
	(In thousands)
September 8, 2017 through December 31, 2017	$	722,387	$	34,039
December 26, 2016 through September 7, 2017	1,273,932		23,486
2016	1,947,441		40,388
2015	572,568		17,010

The following unaudited pro forma information presents the combined financial results for the Company, Moy Park, GNP and Tyson Mexico as if all the acquisitions had been completed at the beginning of 2015.

	2017		2016		2015
	(In thousands, except per share amounts)
Net sales	$	10,773,662	$	10,311,325	$	11,157,328
Net income attributable to Pilgrim's Pride Corporation	664,776		401,630		631,800
Net income attributable to Pilgrim's Pride Corporation per common share - diluted	2.67		1.58		2.44

Consideration Paid

The following table summarizes the consideration paid for Tyson Mexico (in thousands):

Negotiated sales price	$	400,000
Working capital adjustment	(20,933		)
Final purchase price	$	379,067

The following table summarizes the consideration paid for GNP (in thousands)

Negotiated sales price	$	350,000
Working capital adjustment	7,252
Preliminary purchase price	$	357,252

Fair Values for Assets Acquired and Liabilities Assumed

The fair values recorded for the assets acquired and liabilities assumed for Tyson Mexico are as follows (in thousands):

Cash and cash equivalents	$	5,535
Trade accounts and other receivables	24,173
Inventories	68,130
Prepaid expenses and other current assets	7,661
Property, plant and equipment	209,139
Identifiable intangible assets	26,411
Other long-lived assets	199
Total assets acquired	341,248
Accounts payable	21,550
Other current liabilities	8,707
Long-term deferred tax liabilities	52,376
Other long-term liabilities	5,155
Total liabilities assumed	87,788
Total identifiable net assets	253,460
Goodwill	125,607
Total net assets	$	379,067

The fair values recorded for the assets acquired and liabilities assumed for GNP are as follows (in thousands):

Cash and cash equivalents	$	10
Trade accounts and other receivables	18,453
Inventories	56,459
Prepaid expenses and other current assets	3,414
Property, plant and equipment	144,138
Identifiable intangible assets	131,120
Other long-lived assets	829
Total assets acquired	354,423
Accounts payable	23,848
Other current liabilities	11,866
Other long-term liabilities	3,393
Total liabilities assumed	39,107
Total identifiable net assets	315,316
Goodwill	41,936
Total net assets	$	357,252

Acquired Finite-Lived Intangible Assets

The Company recognized certain identifiable intangible assets as of January 6, 2017 due to this acquisition. The following table presents the fair values and useful lives, where applicable, of these assets:

	Fair Value		Useful Life
	(In thousands)		(In years)
Customer relationships	$	92,900	13.0
Trade names	38,200		20.0
Non-compete agreement	20		3.0
Total fair value	$	131,120
Weighted average useful life			15.2

Change in Goodwill

The Company recognized the following change in goodwill related to this acquisition during 2016 (in thousands):

Goodwill, beginning of period	$	156,565
Additional fair value attributed to acquired property, plant and equipment	(51,387		)
Deferred tax impact related to additional fair value attributed to acquired      property, plant and equipment	15,416
Deferred tax impact related to customer relationship intangibles	5,013
Goodwill, end of period	$	125,607