XML 239 R56.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
BUSINESS ACQUISITIONS - Narrative (Details)
$ in Thousands, £ in Millions, lb in Millions, bird / WK in Millions
12 Months Ended
Oct. 15, 2019
USD ($)
facility
Oct. 15, 2019
GBP (£)
Sep. 08, 2017
USD ($)
bird / WK
mill
lb
hatchery
facility
plant
Sep. 08, 2017
GBP (£)
Jan. 06, 2017
USD ($)
intangible_asset
Dec. 29, 2019
USD ($)
employee
bird / WK
plant
Dec. 30, 2018
USD ($)
Apr. 01, 2018
USD ($)
Dec. 31, 2017
USD ($)
Sep. 24, 2017
USD ($)
Mar. 26, 2017
USD ($)
Tulip Ltd. and Subsidiaries                      
Business Acquisition [Line Items]                      
Percentage of equity acquired 100.00%                    
Cash consideration $ 391,500 £ 310.0                  
Fresh processing plants (in plants) | facility 14                    
Number of employees | employee           5,400          
Transaction costs $ 1,300                    
Net sales of acquiree since acquisition date           $ 306,700          
Net income (loss) of acquiree since acquisition date           $ (2,700)          
Identifiable intangible assets $ 40,418                    
Tulip Ltd. and Subsidiaries | Customer relationships                      
Business Acquisition [Line Items]                      
Net sales growth rate used in determination of fair value 2.00% 2.00%                  
Attrition rate for existing customers used in determination of fair value 10.00% 10.00%                  
Percentage of pre-tax income used to estimate income taxes in 2020 18.00% 18.00%                  
Percentage of pre-tax income used to estimate income taxes after 2020 17.00% 17.00%                  
Discount rate 22.00% 22.00%                  
Identifiable intangible assets $ 40,400                    
Weighted average useful life 11 years 11 years                  
Moy Park                      
Business Acquisition [Line Items]                      
Percentage of equity acquired     100.00%                
Cash consideration     $ 301,300                
Fresh processing plants (in plants) | plant     4                
Number of employees | employee           10,200          
Transaction costs     $ 19,900         $ 200 $ 4,500 $ 15,000  
Net sales of acquiree since acquisition date           $ 2,100,000 $ 2,100,000        
Net income (loss) of acquiree since acquisition date           $ 70,700 52,100        
Note payable for consideration transferred | £       £ 562.5              
Number of prepared foods cook plants | plant     10                
Number of feed mills | mill     3                
Number of hatcheries | hatchery     6                
Number of rendering facilities | facility     1                
Maximum processing capacity of employees per week (in birds per week) | bird / WK     6.1                
Food prepared per year (in pounds) | lb     462.0                
GNP                      
Business Acquisition [Line Items]                      
Percentage of equity acquired         100.00%            
Cash consideration         $ 350,000            
Number of employees | employee           1,700          
Transaction costs         600           $ 600
Net sales of acquiree since acquisition date           $ 422,100 398,400        
Net income (loss) of acquiree since acquisition date           $ 39,500 $ (1,400)        
Identifiable intangible assets         $ 131,120            
Weighted average useful life         15 years 2 months 12 days            
Maximum processing capacity of employees per week (in birds per week) | bird / WK           2.1          
Processing plants acquired (in plants) | plant           2          
GNP | Trade names                      
Business Acquisition [Line Items]                      
Net sales growth rate used in determination of fair value         2.50%            
Percentage of pre-tax income used to estimate income taxes in 2020         39.30%            
Weighted average useful life         20 years            
Income tax amortization benefit factor used in determination of fair value         1.2098            
Discount rate to determine hypothetical savings generated by avoiding royalty costs         13.80%            
Number of intangible assets acquired | intangible_asset         2            
Finite-lived Intangible Assets Acquired, Fair Value Inputs, Royalty Rate         2.00%            
GNP | Customer relationships                      
Business Acquisition [Line Items]                      
Net sales growth rate used in determination of fair value         2.50%            
Attrition rate for existing customers used in determination of fair value         4.00%            
Discount rate         13.80%            
Weighted average useful life         13 years            
Income tax amortization benefit factor used in determination of fair value         1.2098            
Percentage of pre-tax income used to estimate income taxes         39.30%