BUSINESS ACQUISITIONS (Tables)

12 Months Ended

Dec. 29, 2019

Business Combinations [Abstract]

Pro Forma Information

The following unaudited pro forma information presents the combined financial results for the Company, Tulip, Moy Park and GNP as if the acquisitions had been completed at the beginning of 2017.

	2019		2018		2017
	(In thousands, except per share amounts)
Net sales	$	12,462,566	$	12,342,475	$	12,165,647
Net income attributable to Pilgrim's Pride Corporation	385,958		140,508		608,188
Net income attributable to Pilgrim's Pride Corporation per common share - diluted	1.55		0.56		2.44

Consideration Paid

The following table summarizes the consideration paid for GNP (in thousands):

Negotiated sales price	$	350,000
Working capital adjustment	7,252
Preliminary purchase price	$	357,252

Fair Values for Assets Acquired and Liabilities Assumed

The fair values recorded for the assets acquired and liabilities assumed for GNP are as follows (in thousands):

Cash and cash equivalents	$	10
Trade accounts and other receivables	18,453
Inventories	56,459
Prepaid expenses and other current assets	3,414
Property, plant and equipment	144,138
Identifiable intangible assets	131,120
Other long-lived assets	829
Total assets acquired	354,423
Accounts payable	23,848
Other current liabilities	11,866
Other long-term liabilities	3,393
Total liabilities assumed	39,107
Total identifiable net assets	315,316
Goodwill	41,936
Total net assets	$	357,252

Acquired Finite-Lived Intangible Assets

The Company recognized certain identifiable intangible assets as of January 6, 2017 due to this acquisition. The following table presents the fair values and useful lives, where applicable, of these assets:

	Fair Value		Useful Life
	(In thousands)		(In years)
Customer relationships	$	92,900	13.0
Trade names	38,200		20.0
Non-compete agreement	20		3.0
Total fair value	$	131,120
Weighted average useful life			15.2