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CONDENSED CONSOLIDATED AND COMBINED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
6 Months Ended
Jul. 01, 2018
Jun. 25, 2017
Cash flows from operating activities:    
Net income $ 225,568 $ 345,929
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 139,479 132,613
Noncash loss on early extinguishment of debt 4,918 0
Foreign currency transaction loss related to borrowing arrangements 4,221 5,634
Amortization of premium related to Senior Notes (334) 0
Accretion of discount related to Senior Notes 321 0
Asset impairment 573 3,534
Loss (gain) on property disposals 239 (768)
Gain on equity-method investments (32) (30)
Share-based compensation 5,633 1,947
Deferred income tax expense (benefit) (11,927) 25,857
Changes in operating assets and liabilities:    
Trade accounts and other receivables (31,913) (93,391)
Inventories 60,303 (93,901)
Prepaid expenses and other current assets (31,099) (15,323)
Accounts payable, accrued expenses and other current liabilities 103,991 (46,506)
Income taxes (161,571) 73,207
Long-term pension and other postretirement obligations (5,323) (3,916)
Other operating assets and liabilities 942 (1,337)
Cash provided by operating activities 303,989 333,549
Cash flows from investing activities:    
Acquisitions of property, plant and equipment (155,188) (197,989)
Purchase of acquired businesses, net of cash acquired 0 (359,698)
Proceeds from property disposals 1,205 1,466
Cash used in investing activities (153,983) (556,221)
Cash flows from financing activities:    
Proceeds from revolving line of credit and long-term borrowings 604,062 1,013,662
Payments on revolving line of credit, long-term borrowings and capital lease obligations (673,452) (591,904)
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 (5,708) (2,777)
Purchase of common stock under share repurchase program 0 (14,641)
Cash provided by (used in) financing activities (69,540) 409,378
Effect of exchange rate changes on cash and cash equivalents 4,030 9,273
Increase in cash, cash equivalents and restricted cash 84,496 195,979
Cash, cash equivalents and restricted cash, beginning of period 589,531 297,524
Cash, cash equivalents and restricted cash, end of period $ 674,027 $ 493,503