REPORTABLE SEGMENTS (Tables)

6 Months Ended

Jun. 27, 2021

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

Additional information regarding reportable segments is as follows:

	Three Months Ended				Six Months Ended
	June 27, 2021(a)		June 28, 2020(b)		June 27, 2021(c)		June 28, 2020(d)
	(In thousands)
Net sales
U.S.	$	2,248,470	$	1,798,689	$	4,248,029	$	3,725,569
U.K. and Europe	935,845		757,201		1,790,579		1,579,463
Mexico	453,383		268,133		872,515		593,919
Total	$	3,637,698	$	2,824,023	$	6,911,123	$	5,898,951

(a)For the three months ended June 27, 2021, the U.S. reportable segment had intercompany sales to the Mexico reportable segment of $82.8 million. These sales consisted of fresh products, prepared products and grain.

(b)For the three months ended June 28, 2020, the U.S. reportable segment had intercompany sales to the Mexico reportable segment of $57.1 million. These sales consisted of fresh products, prepared products and grain.

(c)For the six months ended June 27, 2021, the U.S. reportable segment had intercompany sales to the Mexico reportable segment of $150.8 million. These sales consisted of fresh products, prepared products and grain.

(d)For the six months ended June 28, 2020, the U.S. reportable segment had intercompany sales to the Mexico reportable segment of $113.7 million. These sales consisted of fresh products, prepared products and grain.

	Three Months Ended				Six Months Ended
	June 27, 2021		June 28, 2020		June 27, 2021		June 28, 2020
	(In thousands)
Reportable segment profit (loss)
U.S.	$	(224,171)	$	39,448	$	(156,046)	$	124,500
U.K. and Europe	21,831		23,185		32,326		46,375
Mexico	79,195		(35,544)		159,025		(59,424)
Eliminations	14		200		28		224
Total operating income (loss)	(123,131)		27,289		35,333		111,675
Interest expense, net of capitalized interest	50,651		32,323		80,985		65,011
Interest income	(842)		(1,158)		(3,208)		(2,848)
Foreign currency transaction loss (gain)	4,145		5,525		6,659		(12,860)
Miscellaneous, net	(770)		(45)		(8,614)		(34,233)
Income (loss) before income taxes	(176,315)		(9,356)		(40,489)		96,605
Income tax expense (benefit)	(9,812)		(2,956)		25,546		35,556
Net income (loss)	$	(166,503)	$	(6,400)	$	(66,035)	$	61,049

	June 27, 2021		December 27, 2020
	(In thousands)
Total assets
U.S.	$	5,502,300	$	5,189,021
U.K. and Europe	3,108,881		3,034,219
Mexico	1,099,050		1,212,428
Eliminations	(1,961,386)		(1,961,171)
Total assets	$	7,748,845	$	7,474,497

	June 27, 2021		December 27, 2020
	(In thousands)
Long-lived assets(a)
U.S.	$	1,843,412	$	1,815,460
U.K. and Europe	852,059		842,049
Mexico	281,063		292,651
Eliminations	(3,756)		(3,783)
Total long-lived assets	$	2,972,778	$	2,946,377

(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.