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CONDENSED CONSOLIDATED AND COMBINED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
$ in Thousands
3 Months Ended
Mar. 31, 2019
Apr. 01, 2018
Cash flows from operating activities:    
Net income $ 84,125 $ 119,224
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 67,182 67,444
Loan cost amortization 1,201 1,757
Share-based compensation 1,882 1,273
Foreign currency transaction loss (gain) related to borrowing arrangements (1,034) 5,745
Deferred income tax benefit (4,089) (4,735)
Accretion of discount related to Senior Notes 246 76
Amortization of premium related to Senior Notes (167) (167)
Loss (gain) on property disposals (108) 80
Gain on equity-method investments (16) (16)
Noncash loss on early extinguishment of debt 0 3,918
Asset impairment 0 470
Changes in operating assets and liabilities:    
Trade accounts and other receivables 2,381 (61,945)
Inventories (1,368) 19,541
Prepaid expenses and other current assets (11,479) (20,777)
Accounts payable, accrued expenses and other current liabilities (21,968) (29,171)
Income taxes 6,579 (98,784)
Long-term pension and other postretirement obligations (1,315) (2,759)
Other operating assets and liabilities (1,683) (534)
Cash provided by operating activities 120,369 640
Cash flows from investing activities:    
Acquisitions of property, plant and equipment (87,941) (76,681)
Proceeds from property disposals 539 1,021
Cash used in investing activities (87,402) (75,660)
Cash flows from financing activities:    
Proceeds from revolving line of credit and long-term borrowings 67,193 502,341
Payments on revolving line of credit, long-term borrowings and capital lease obligations (62,293) (433,550)
Proceeds (payment) from equity contribution (distribution) under Tax Sharing Agreement between JBS USA Food Company Holdings and Pilgrim’s Pride Corporation (525) 5,558
Payment of capitalized loan costs (458) (4,061)
Cash provided by financing activities 3,917 70,288
Effect of exchange rate changes on cash and cash equivalents 429 6,669
Increase in cash, cash equivalents and restricted cash 37,313 1,937
Cash, cash equivalents and restricted cash, beginning of period 361,578 589,531
Cash, cash equivalents and restricted cash, end of period $ 398,891 $ 591,468