BUSINESS ACQUISITION (Tables)

3 Months Ended

Mar. 27, 2022

Business Combination and Asset Acquisition [Abstract]

Fair Values for Assets Acquired and Liabilities Assumed

The preliminary fair values recorded for the assets acquired and liabilities assumed for the acquisition are as follows (in thousands):

	Preliminary
Cash and cash equivalents	$	113
Trade accounts and other receivables	7,387
Inventories	60,341
Prepaid expenses and other current assets	1,727
Operating lease assets	14,648
Property, plant and equipment	247,133
Identifiable intangible assets	415,157
Other assets	335
Total assets acquired	746,841
Accounts payable	4,615
Other current liabilities	407
Operating lease liabilities	18,996
Deferred tax liabilities	114,701
Other long-term liabilities	2,612
Total liabilities assumed	141,331
Total identifiable net assets	605,510
Goodwill	353,397
Total consideration transferred	$	958,907

Unaudited Pro Forma Information

The following unaudited pro forma information presents the combined financial results for the Company and PFM for 2021 as if the acquisition had been completed at the beginning of 2021:

	Three Months Ended March 28, 2021
	(In thousands, except per share amounts)
Net sales	$	3,495,180
Net income attributable to Pilgrim's Pride Corporation	76,104
Net income attributable to Pilgrim's Pride Corporation      per common share - diluted	$	0.31