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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 29, 2019
Sep. 30, 2018
Sep. 29, 2019
Sep. 30, 2018
Income Statement [Abstract]        
Net sales $ 2,777,970 $ 2,697,604 $ 8,345,730 $ 8,280,995
Cost of sales 2,495,773 2,527,863 7,476,731 7,549,367
Gross profit 282,197 169,741 868,999 731,628
Selling, general and administrative expense 94,032 84,138 264,313 257,396
Administrative restructuring activities (20) 257 (90) 2,181
Operating income 188,185 85,346 604,776 472,051
Interest expense, net of capitalized interest 32,028 35,334 99,184 125,901
Interest income (4,698) (4,241) (11,481) (10,665)
Foreign currency transaction loss (gain) 3,027 (6,711) 7,923 (2,802)
Miscellaneous, net 1,367 653 2,521 (1,781)
Income before income taxes 156,461 60,311 506,629 361,398
Income tax expense 46,365 30,848 142,328 106,367
Net income 110,096 29,463 364,301 255,031
Less: Net income (loss) attributable to noncontrolling interests 331 153 457 (238)
Net income attributable to Pilgrim’s Pride Corporation $ 109,765 $ 29,310 $ 363,844 $ 255,269
Weighted average shares of Pilgrim's Pride Corporation common stock outstanding:        
Basic (in shares) 249,467 248,981 249,344 248,933
Effect of dilutive common stock equivalents (in shares) 262 198 308 143
Diluted (in shares) 249,729 249,179 249,652 249,076
Net income attributable to Pilgrim’s Pride Corporation per share of common stock outstanding:        
Basic (in dollars per share) $ 0.44 $ 0.12 $ 1.46 $ 1.03
Diluted (in dollars per share) $ 0.44 $ 0.12 $ 1.46 $ 1.03