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CONSOLIDATED CONSOLIDATED AND COMBINED STATEMENTS OF INCOME (UNAUDITED) - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jul. 01, 2018
Jun. 25, 2017
Jul. 01, 2018
Jun. 25, 2017
Income Statement [Abstract]        
Net sales $ 2,836,713 $ 2,752,286 $ 5,583,391 $ 5,231,626
Cost of sales 2,562,491 2,277,454 5,021,504 4,500,410
Gross profit 274,222 474,832 561,887 731,216
Selling, general and administrative expense 87,975 92,148 173,258 181,808
Administrative restructuring charges 1,135 4,349 1,924 4,349
Operating income 185,112 378,335 386,705 545,059
Interest expense, net of capitalized interest 40,267 22,567 90,567 41,679
Interest income (4,834) (1,104) (6,424) (1,472)
Foreign currency transaction loss (gain) 5,630 (2,303) 3,909 (1,612)
Miscellaneous, net (817) (1,272) (2,434) (4,115)
Income before income taxes 144,866 360,447 301,087 510,579
Income tax expense 38,522 115,256 75,519 164,650
Net income 106,344 245,191 225,568 345,929
Less: Net income from Granite Holdings Sàrl prior to acquisition by Pilgrim's Pride Corporation 0 11,118 0 17,393
Less: Net income (loss) attributable to noncontrolling interests (197) 432 (391) 974
Net income attributable to Pilgrim’s Pride Corporation $ 106,541 $ 233,641 $ 225,959 $ 327,562
Weighted average shares of Pilgrim's Pride Corporation common stock outstanding:        
Basic (in shares) 248,981 248,753 248,909 248,722
Effect of dilutive common stock equivalents (in shares) 76 220 116 228
Diluted (in shares) 249,057 248,973 249,025 248,950
Net income attributable to Pilgrim’s Pride Corporation per share of common stock outstanding:        
Basic (in dollars per share) $ 0.43 $ 0.94 $ 0.91 $ 1.32
Diluted (in dollars per share) $ 0.43 $ 0.94 $ 0.91 $ 1.32