REPORTABLE SEGMENTS (Tables)

12 Months Ended

Dec. 29, 2019

Segment Reporting [Abstract]

Schedule of Net Sales, Operating Income, Depreciation and Amortization, Long-lived Assets and Capital Expenditures

Additional information regarding reportable segments is as follows:

	December 29, 2019(a)		December 30,2018(b)		December 31, 2017(c)
	(In thousands)
Net sales
U.S.	$	7,636,716	$	7,425,661	$	7,443,222
U.K. and Europe	2,383,793		2,148,666		1,996,319
Mexico	1,388,710		1,363,457		1,328,322
Total	$	11,409,219	$	10,937,784	$	10,767,863

(a) For the year 2019, the United States reportable segment had intercompany sales to the Mexico reportable segment of $188.9 million. These sales consisted of fresh products, prepared products and grain.

(b) For the year 2018, the United States reportable segment had intercompany sales to the Mexico reportable segment of $100.7 million. These sales consisted of fresh products, prepared products and grain.

(c) For the year 2017, the United States reportable segment had intercompany sales to the Mexico reportable segment of $84.3 million. These sales consisted of fresh products, prepared products and grain.

	December 29, 2019			December 30, 2018			December 31, 2017
	(In thousands)
Operating income
U.S.	$	487,275		$	291,381		$	841,492
U.K. and Europe	79,182			84,524			77,105
Mexico	124,015			119,649			153,631
Elimination	96			132			94
Total operating income	690,568			495,686			1,072,322
Interest expense, net of capitalized interest	132,630			162,812			107,183
Interest income	(14,277		)	(13,811		)	(7,730		)
Foreign currency transaction loss (gain)	6,917			17,160			(2,659		)
Gain on bargain purchase	(56,880		)	—			—
Miscellaneous, net	4,633			(2,702		)	(6,538		)
Income before income taxes	617,545			332,227			982,066
Income tax expense	161,009			85,423			263,899
Net income	$	456,536		$	246,804		$	718,167

	December 29, 2019		December 30, 2018		December 31, 2017
	(In thousands)
Depreciation and amortization:
U.S.	$	207,584	$	196,079	$	195,259
U.K. and Europe	60,499		50,586		49,562
Mexico	19,147		27,423		27,003
Total	$	287,230	$	274,088	$	271,824

	December 29, 2019		December 30, 2018		December 31, 2017
	(In thousands)
Capital expenditures:
U.S.	$	269,609	$	257,913	$	258,495
U.K. and Europe	58,795		58,334		52,349
Mexico	19,716		32,419		29,028
Total	$	348,120	$	348,666	$	339,872

	December 29, 2019		December 30, 2018
	(In thousands)
Total assets:
U.S.	$	3,364,171	$	3,067,248
U.K. and Europe	2,824,382		1,986,938
Mexico	913,811		877,016
Total	$	7,102,364	$	5,931,202

	December 29, 2019		December 30, 2018		December 31, 2017
	(In thousands)
Net sales to customers by customer location:
U.S.	$	7,355,631	$	7,173,280	$	7,452,758
Mexico	1,437,081		1,411,727		1,019,170
Asia	175,296		158,864		136,144
Europe	2,363,017		2,134,822		2,000,843
Canada, Caribbean and Central America	31,808		26,450		114,543
Africa	28,400		21,286		29,905
South America	17,384		10,704		13,279
Pacific	602		651		1,221
Total	$	11,409,219	$	10,937,784	$	10,767,863

	December 29, 2019(b)		December 30, 2018
	(In thousands)
Long-lived assets(a):
U.S.	$	1,789,530	$	1,506,217
U.K. and Europe	801,887		359,621
Mexico	302,157		295,864
Total	$	2,893,574	$	2,161,702

(a) For this disclosure, we exclude financial instruments, deferred tax assets and intangible assets in accordance with ASC 280-10-50-41, Segment Reporting. Long-lived assets, as used in ASC 280-10-50-41, implies hard assets that cannot be readily removed.

(b)

For the year 2019 and going forward, operating leases assets are and will be included in long-lived assets for this disclosure.

Schedule of Sales by Product Lines

The following table sets forth, for the periods beginning with 2017, net sales attributable to each of our primary product lines and markets served with those products. We based the table on our internal sales reports and their classification of products.

	2019		2018		2017
	(In thousands)
U.S. chicken:
Fresh	$	6,214,954	$	5,959,458	$	5,700,503
Prepared	842,365		773,983		950,378
Exports	282,791		258,732		213,595
Total U.S. chicken	7,340,110		6,992,173		6,864,476
U.K. and Europe chicken:
Fresh	918,852		925,124		846,575
Prepared	817,292		865,864		792,284
Exports	262,041		303,921		318,699
Total U.K. and Europe chicken	1,998,185		2,094,909		1,957,558
Mexico chicken:
Fresh	1,245,976		1,252,403		1,245,144
Prepared	95,733		76,860		58,512
Total Mexico chicken	1,341,709		1,329,263		1,303,656
Total chicken	10,680,004		10,416,345		10,125,690
U.K. and Europe pork:
Fresh	135,985		—		—
Prepared	134,426		—		—
Exports	16,174		—		—
Total U.K. and Europe pork	286,585		—		—
Other products:
U.S.	296,606		433,488		578,746
U.K. and Europe	99,023		53,757		38,761
Mexico	47,001		34,194		24,666
Total other products	442,630		521,439		642,173
Total net sales	$	11,409,219	$	10,937,784	$	10,767,863