REPORTABLE SEGMENTS (Tables)

9 Months Ended

Sep. 26, 2021

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 26, 2021(a)		September 27, 2020(b)		September 26, 2021(c)		September 27, 2020(d)
	(In thousands)
Net sales
U.S.	$	2,466,850	$	1,894,222	$	6,714,879	$	5,619,791
U.K. and Europe	930,440		845,677		2,721,019		2,425,140
Mexico	430,276		335,222		1,302,791		929,141
Total	$	3,827,566	$	3,075,121	$	10,738,689	$	8,974,072

(a)For the three months ended September 26, 2021, the U.S. reportable segment had intercompany sales to the Mexico reportable segment of $83.9 million. These sales consisted of fresh products, prepared products and grain.

(b)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.

(c)For the nine months ended September 26, 2021, the U.S. reportable segment had intercompany sales to the Mexico reportable segment of $234.7 million. These sales consisted of fresh products, prepared products and grain.

(d)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.

	Three Months Ended				Nine Months Ended
	September 26, 2021		September 27, 2020		September 26, 2021		September 27, 2020
	(In thousands)
Reportable segment profit (loss)
U.S.	$	70,666	$	2,451	$	(85,380)	$	126,951
U.K. and Europe	445		29,949		32,771		76,324
Mexico	49,652		61,653		208,677		2,229
Eliminations	14		235		42		459
Total operating income	120,777		94,288		156,110		205,963
Interest expense, net of capitalized interest	29,833		30,564		110,818		95,575
Interest income	(1,244)		(1,763)		(4,452)		(4,611)
Foreign currency transaction loss (gain)	2,359		9,092		9,018		(3,768)
Miscellaneous, net	(1,391)		360		(10,005)		(33,873)
Income before income taxes	91,220		56,035		50,731		152,640
Income tax expense	30,385		22,344		55,931		57,900
Net income (loss)	$	60,835	$	33,691	$	(5,200)	$	94,740

	September 26, 2021		December 27, 2020
	(In thousands)
Total assets by reportable segment
U.S.	$	6,472,756	$	5,189,021
U.K. and Europe	4,146,047		3,034,219
Mexico	1,132,193		1,212,428
Eliminations	(2,918,153)		(1,961,171)
Total assets	$	8,832,843	$	7,474,497

	September 26, 2021		December 27, 2020
	(In thousands)
Long-lived assets by reportable segment(a)
U.S.	$	1,850,525	$	1,815,460
U.K. and Europe	1,022,966		842,049
Mexico	279,197		292,651
Eliminations	(3,743)		(3,783)
Total long-lived assets	$	3,148,945	$	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.