XML 82 R68.htm IDEA: XBRL DOCUMENT v3.8.0.1
LONG-TERM DEBT AND OTHER BORROWING ARRANGEMENTS (Narrative) (Details)
1 Months Ended 3 Months Ended
May 29, 2018
Mar. 07, 2018
USD ($)
Sep. 29, 2017
USD ($)
May 08, 2017
USD ($)
Sep. 27, 2016
MXN ($)
Jan. 29, 2016
GBP (£)
Feb. 11, 2015
USD ($)
Jun. 30, 2009
EUR (€)
Sep. 30, 2016
EUR (€)
Apr. 01, 2018
USD ($)
Apr. 01, 2018
EUR (€)
Mar. 07, 2018
GBP (£)
Dec. 31, 2017
USD ($)
Nov. 02, 2017
GBP (£)
Apr. 17, 2015
GBP (£)
Mar. 19, 2015
GBP (£)
Mar. 11, 2015
USD ($)
May 29, 2014
GBP (£)
Debt Instrument [Line Items]                                    
Long-term debt                   $ 2,799,626,000     $ 2,709,350,000          
Revolving note payable at 2.84% | Line of credit                                    
Debt Instrument [Line Items]                                    
Stated interest rate                   2.84% 2.84%              
Long-term debt                   $ 0     73,262,000          
Revolving note payable at 2.84% | Rabobank | Line of credit                                    
Debt Instrument [Line Items]                                    
Maximum borrowing capacity       $ 750,000,000.0                            
Outstanding borrowings                   $ 0                
Term note payable at 2.97% | Line of credit                                    
Debt Instrument [Line Items]                                    
Stated interest rate                   2.97% 2.97%              
Long-term debt                   $ 770,000,000     780,000,000          
Term note payable at 2.97% | Rabobank | Line of credit                                    
Debt Instrument [Line Items]                                    
Long-term debt                   770,000,000                
Maximum borrowing capacity       $ 800,000,000.0                            
2015 US Credit Facility | Rabobank | London Interbank Offered Rate (LIBOR)                                    
Debt Instrument [Line Items]                                    
Basis spread on variable rate       1.50%                            
2015 US Credit Facility | Rabobank | London Interbank Offered Rate (LIBOR) | Minimum                                    
Debt Instrument [Line Items]                                    
Basis spread on variable rate       1.25%                            
2015 US Credit Facility | Rabobank | London Interbank Offered Rate (LIBOR) | Maximum                                    
Debt Instrument [Line Items]                                    
Basis spread on variable rate       2.75%                            
2015 US Credit Facility | Rabobank | Base Rate                                    
Debt Instrument [Line Items]                                    
Basis spread on variable rate       0.50%                            
2015 US Credit Facility | Rabobank | Base Rate | Minimum                                    
Debt Instrument [Line Items]                                    
Basis spread on variable rate       0.25%                            
2015 US Credit Facility | Rabobank | Base Rate | Maximum                                    
Debt Instrument [Line Items]                                    
Basis spread on variable rate       1.75%                            
2015 US Credit Facility | Rabobank | Line of credit                                    
Debt Instrument [Line Items]                                    
Available increase to aggregate revolving loan commitment       $ 1,000,000,000.0                            
Quarterly principal payment required, percent of original principal amount       1.25%                            
Current borrowing capacity                   705,200,000                
Letters of credit outstanding                   44,800,000                
Credit facility, capital expenditures limit             $ 500,000,000.0                      
2015 US Credit Facility | Rabobank | Line of credit | U.S. and Puerto Rico Subsidiaries                                    
Debt Instrument [Line Items]                                    
Percentage of equity interest guaranteed for debt             100.00%                      
2015 US Credit Facility | Rabobank | Line of credit | Foreign Subsidiaries                                    
Debt Instrument [Line Items]                                    
Percentage of equity interest guaranteed for debt             65.00%                      
2015 US Credit Facility | Rabobank | Swingline Loans                                    
Debt Instrument [Line Items]                                    
Maximum borrowing capacity       $ 75,000,000.0                            
2015 US Credit Facility | Rabobank | Letter of Credit                                    
Debt Instrument [Line Items]                                    
Maximum borrowing capacity       $ 125,000,000.0                            
Mexico Credit Facility (defined below) with notes payable at TIIE Rate plus 0.95% | Line of credit                                    
Debt Instrument [Line Items]                                    
Long-term debt                   69,823,000     76,307,000          
Maximum borrowing capacity         $ 1,500,000,000.0         82,500,000.0                
Current borrowing capacity                   12,700,000                
Outstanding borrowings                   $ 69,800,000                
Interest rate on short-term credit facility amounts outstanding                   8.80% 8.80%              
Mexico Credit Facility (defined below) with notes payable at TIIE Rate plus 0.95% | Line of credit | TIIE Rate                                    
Debt Instrument [Line Items]                                    
Basis spread on variable rate         0.95%         0.95%                
Moy Park Multicurrency Revolving Facility with notes payable at LIBOR rate plus 2.5% | Line of credit                                    
Debt Instrument [Line Items]                                    
Long-term debt                   $ 0     9,590,000          
Maximum borrowing capacity | £                               £ 20,000,000.0    
Moy Park Multicurrency Revolving Facility with notes payable at LIBOR rate plus 2.5% | Line of credit | London Interbank Offered Rate (LIBOR)                                    
Debt Instrument [Line Items]                                    
Basis spread on variable rate                   2.50%                
Moy Park Receivables Finance Agreement | Line of credit                                    
Debt Instrument [Line Items]                                    
Long-term debt                   $ 0     0          
Moy Park Receivables Finance Agreement | Line of credit | London Interbank Offered Rate (LIBOR)                                    
Debt Instrument [Line Items]                                    
Basis spread on variable rate                   1.50%                
Moy Park France Invoice Discounting Revolver with payables at EURIBOR plus 0.8% | Line of credit                                    
Debt Instrument [Line Items]                                    
Long-term debt                   $ 12,754,000     1,815,000          
Maximum borrowing capacity                   37,000,000                
Current borrowing capacity                   $ 24,200,000                
Moy Park France Invoice Discounting Revolver with payables at EURIBOR plus 0.8% | Receivables Finance Agreement                                    
Debt Instrument [Line Items]                                    
Maximum borrowing capacity | €               € 20,000,000.0     € 30,000,000.0              
Line of credit facility limit increase | €                 € 10,000,000                  
Moy Park France Invoice Discounting Revolver with payables at EURIBOR plus 0.8% | Receivables Finance Agreement | EURIBOR Rate                                    
Debt Instrument [Line Items]                                    
Basis spread on variable rate               0.80%   0.80%                
Senior notes | Senior notes payable, net of premium and discount at 5.75%                                    
Debt Instrument [Line Items]                                    
Aggregate principal amount   $ 250,000,000.0 $ 250,000,000.0                           $ 500,000,000  
Stated interest rate                   5.75% 5.75%           5.75%  
Add on offering, percent of face value   99.25% 102.00%                 99.25%            
Proceeds from issuance of debt   $ 248,100,000 $ 255,000,000                              
Unamortized premium     5,000,000                              
Unamortized discount   $ 1,900,000                                
Long-term debt                   $ 1,002,799,000     754,820,000          
Senior notes | Senior notes payable at 5.875%                                    
Debt Instrument [Line Items]                                    
Aggregate principal amount     $ 600,000,000.0                              
Stated interest rate     5.875%             5.875% 5.875%              
Add on offering, percent of face value   97.25%                   97.25%            
Proceeds from issuance of debt   $ 243,100,000                                
Unamortized discount   $ 6,900,000                                
Long-term debt                   $ 843,180,000     600,000,000          
Senior notes | Senior notes payable at 6.25%                                    
Debt Instrument [Line Items]                                    
Aggregate principal amount | £                             £ 100,000,000     £ 200,000,000
Stated interest rate                   6.25% 6.25%             6.25%
Tendered amount | £                       £ 233,100,000   £ 1,200,000        
Long-term debt                   $ 92,128,000     $ 403,444,000         £ 65,700,000
Senior notes | Senior notes payable at 6.25% | Subsequent Event                                    
Debt Instrument [Line Items]                                    
Redemption price, percentage 101.56%                                  
Line of credit | Moy Park Receivables Finance Agreement | Line of credit                                    
Debt Instrument [Line Items]                                    
Long-term debt                   0                
Maximum borrowing capacity           £ 45,000,000.0       $ 63,000,000                
Line of credit, accordion feature | £           £ 15,000,000                        
Line of credit | Moy Park Receivables Finance Agreement | Line of credit | London Interbank Offered Rate (LIBOR)                                    
Debt Instrument [Line Items]                                    
Basis spread on variable rate           1.50%