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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jul. 01, 2018
Cash flows from operating activities:    
Net income $ 254,205 $ 225,568
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 138,530 136,087
Share-based compensation 5,217 5,633
Deferred income tax benefit (3,354) (11,927)
Loan cost amortization 2,401 3,392
Accretion of discount related to Senior Notes 491 321
Amortization of premium related to Senior Notes (334) (334)
Loss on property disposals 230 239
Foreign currency transaction loss related to borrowing arrangements 37 4,221
Gain on equity-method investments (32) (32)
Noncash loss on early extinguishment of debt 0 4,918
Asset impairment 0 573
Changes in operating assets and liabilities:    
Trade accounts and other receivables (20,385) (31,913)
Inventories (27,212) 60,303
Prepaid expenses and other current assets (1,339) (31,099)
Accounts payable, accrued expenses and other current liabilities 20,664 103,991
Income taxes 34,013 (161,571)
Long-term pension and other postretirement obligations (1,121) (5,323)
Other operating assets and liabilities 1,353 942
Cash provided by operating activities 403,364 303,989
Cash flows from investing activities:    
Acquisitions of property, plant and equipment (177,609) (155,188)
Proceeds from property disposals 1,740 1,205
Cash used in investing activities (175,869) (153,983)
Cash flows from financing activities:    
Payments on revolving line of credit, long-term borrowings and capital lease obligations (113,079) (673,452)
Proceeds from revolving line of credit and long-term borrowings 99,636 604,062
Purchase of common stock under share repurchase program (2,898) 0
Payment of capitalized loan costs (596) (5,708)
Proceeds (payment) from equity contribution (distribution) under Tax Sharing Agreement between JBS USA Food Company Holdings and Pilgrim's Pride Corporation (525) 5,558
Cash used in financing activities (17,462) (69,540)
Effect of exchange rate changes on cash and cash equivalents (5) 4,030
Increase in cash, cash equivalents and restricted cash 210,028 84,496
Cash, cash equivalents and restricted cash, beginning of period 361,578 589,531
Cash, cash equivalents and restricted cash, end of period $ 571,606 $ 674,027