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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
9 Months Ended
Sep. 29, 2019
Sep. 30, 2018
Cash flows from operating activities:    
Net income $ 364,301 $ 255,031
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization 210,381 207,113
Share-based compensation 7,322 9,259
Deferred income tax expense (benefit) 2,396 (2,147)
Loan cost amortization 3,609 4,337
Accretion of discount related to Senior Notes 737 567
Amortization of premium related to Senior Notes (501) (501)
Gain on property disposals (9,546) (452)
Foreign currency transaction loss related to borrowing arrangements 1,259 4,221
Gain on equity-method investments (48) (48)
Noncash loss on early extinguishment of debt 0 6,037
Asset impairment 0 884
Changes in operating assets and liabilities:    
Trade accounts and other receivables (46,648) (3,437)
Inventories (108,117) 64,787
Prepaid expenses and other current assets 3,536 (15,428)
Accounts payable, accrued expenses and other current liabilities 67,308 78,107
Income taxes 40,549 (175,569)
Long-term pension and other postretirement obligations (1,578) (9,087)
Other operating assets and liabilities 544 1,606
Cash provided by operating activities 535,504 425,280
Cash flows from investing activities:    
Acquisitions of property, plant and equipment (258,725) (231,875)
Proceeds from property disposals 15,168 2,707
Cash used in investing activities (243,557) (229,168)
Cash flows from financing activities:    
Payments on revolving line of credit, long-term borrowings and finance lease obligations (123,276) (1,071,441)
Proceeds from revolving line of credit and long-term borrowings 99,638 703,090
Purchase of common stock under share repurchase program (2,898) 0
Payment of capitalized loan costs (652) (11,081)
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 (27,713) (373,874)
Effect of exchange rate changes on cash and cash equivalents (808) 4,071
Increase (decrease) in cash, cash equivalents and restricted cash 263,426 (173,691)
Cash, cash equivalents and restricted cash, beginning of period 361,578 589,531
Cash, cash equivalents and restricted cash, end of period $ 625,004 $ 415,840