REPORTABLE SEGMENTS (Tables)

9 Months Ended

Sep. 27, 2020

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Additional information regarding reportable segments is as follows:

	Three Months Ended				Nine Months Ended
	September 27, 2020(a)		September 29, 2019(b)		September 27, 2020(c)		September 29, 2019(d)
	(In thousands)
Net sales:
U.S.	$	1,894,222	$	1,931,657	$	5,619,791	$	5,732,201
U.K. and Europe	845,677		517,531		2,425,140		1,568,396
Mexico	335,222		328,782		929,141		1,045,133
Total	$	3,075,121	$	2,777,970	$	8,974,072	$	8,345,730

(a)For the three months ended September 27, 2020, the U.S. reportable segment had intercompany sales to the Mexico reportable segment of $46.2 million. These sales consisted of fresh products, prepared products, and grain.

(b)For the three months ended September 29, 2019, the U.S. reportable segment had intercompany sales to the Mexico reportable segment of $56.9 million. These sales consisted of fresh products, prepared products, and grain.

(c)For the nine months ended September 27, 2020, the U.S. reportable segment had intercompany sales to the Mexico reportable segment of $159.9 million. These sales consisted of fresh products, prepared products, and grain.

(d)For the nine months ended September 29, 2019, the U.S. reportable segment had intercompany sales to the Mexico reportable segment of $122.9 million. These sales consisted of fresh products, prepared products, and grain.

	Three Months Ended				Nine Months Ended
	September 27, 2020		September 29, 2019		September 27, 2020		September 29, 2019
	(In thousands)
Reportable segment profit:
U.S.	$	2,451	$	125,169	$	126,951	$	426,968
U.K. and Europe	29,949		25,325		76,324		62,233
Mexico	61,653		37,667		2,229		115,503
Eliminations	235		24		459		72
Total operating income	94,288		188,185		205,963		604,776
Interest expense, net of capitalized interest	30,564		32,028		95,575		99,184
Interest income	(1,763)		(4,698)		(4,611)		(11,481)
Foreign currency transaction loss (gain)	9,092		3,027		(3,768)		7,923
Miscellaneous, net	360		1,367		(33,873)		2,521
Income before income taxes	56,035		156,461		152,640		506,629
Income tax expense	22,344		46,365		57,900		142,328
Net income	$	33,691	$	110,096	$	94,740	$	364,301

	September 27, 2020		December 29, 2019
	(In thousands)
Total assets:
U.S.	$	5,570,836	$	5,207,282
U.K. and Europe	2,824,974		2,824,382
Mexico	1,033,958		1,020,331
Eliminations	(1,960,269)		(1,949,631)
Total assets	$	7,469,499	$	7,102,364

	September 27, 2020		December 29, 2019
	(In thousands)
Long-lived assets(a):
U.S.	$	1,799,455	$	1,789,530
U.K. and Europe	782,952		801,887
Mexico	292,028		306,413
Eliminations	(3,797)		(4,256)
Total long-lived assets	$	2,870,638	$	2,893,574

(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.