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CONDENSED CONSOLIDATED AND COMBINED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Apr. 01, 2018
Mar. 26, 2017
Cash flows from operating activities:    
Net income $ 119,224 $ 100,738
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 69,201 62,672
Noncash loss on early extinguishment of debt 3,918 0
Foreign currency transaction loss related to borrowing arrangements 5,745 2,158
Amortization of premium related to Senior Notes (167) 0
Accretion of discount related to Senior Notes 76 0
Asset impairment 470 0
Loss on property disposals 80 118
Gain on equity-method investments (16) (13)
Share-based compensation 1,273 1,460
Deferred income tax expense (benefit) (4,735) 12,780
Changes in operating assets and liabilities:    
Trade accounts and other receivables (61,945) (50,492)
Inventories 19,541 (62,530)
Prepaid expenses and other current assets (20,777) (17,754)
Accounts payable, accrued expenses and other current liabilities (29,171) (5,412)
Income taxes (98,784) 25,216
Long-term pension and other postretirement obligations (2,759) (1,633)
Other operating assets and liabilities (534) (1,013)
Cash provided by operating activities 640 66,295
Cash flows from investing activities:    
Acquisitions of property, plant and equipment (76,681) (121,639)
Purchase of acquired businesses, net of cash acquired 0 (359,698)
Proceeds from property disposals 1,021 181
Cash used in investing activities (75,660) (481,156)
Cash flows from financing activities:    
Proceeds from revolving line of credit and long-term borrowings 502,341 662,795
Payments on revolving line of credit, long-term borrowings and capital lease obligations (433,550) (334,453)
Proceeds from equity contribution under Tax Sharing Agreement between JBS USA Food Company Holdings and Pilgrim’s Pride Corporation 5,558 5,038
Payment of capitalized loan costs (4,061) 0
Purchase of common stock under share repurchase program 0 (14,641)
Cash provided by financing activities 70,288 318,739
Effect of exchange rate changes on cash and cash equivalents 6,669 2,182
Increase (decrease) in cash, cash equivalents and restricted cash 1,937 (93,940)
Cash, cash equivalents and restricted cash, beginning of period 589,531 297,524
Cash, cash equivalents and restricted cash, end of period $ 591,468 $ 203,584